Zomato IPO: Zomato raised Rs 4,196 crore through anchor bid before the release of IPO, A look at Zomato IPO, great investment in anchor bid

Food delivery platform Zomato on Tuesday said it has raised over Rs 4,196 crore from anchor investors ahead of its initial share sale, which will open for public subscription on Wednesday. According to a circular uploaded on the BSE website, the company has decided to allot 552,173,505 equity shares at Rs 76 to anchor investors. BlackRock, Tiger Global Investment Fund, Fidelity, New World Fund Inc., JP Morgan, Morgan Stanley Asia (Singapore) Pte-ODI, Goldman Sachs (Singapore) Pte-ODI, T Rowe, Canada Pension Plan Investment Board, Government of Singapore, Monetary Singapore Authority and Abu Dhabi Investment Authority are among the anchor investors.

Zomato gets 4.196 crores in anchor bid
Domestic investors participating in the anchor bidding include Kotak Mutual Fund, Aditya Birla Sun Life MF, Axis MF, SBI MF, UTI MF, HDFC MF, ICICI Prudential MF, IDFC MF, Sundaram MF, Edelweiss MF, ICICI Prudential. Life Insurance Company and HDFC Life Insurance Company.
The Rs 9,375 crore Initial Public Offer (IPO) includes a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale of Rs 375 crore by Info Edge (India) Limited.

IPO will be open from July 14 to 16
The issue, with a price band of Rs 72-76 per share, will be open for public subscription from July 14-16. True Beacon and Zerodha Co-Founder and CIO Nikhil Kamath said the Zomato IPO is the opening share for other Indian startups in the Indian market. Will pave way for sales. “I think markets are always ready to accept and accommodate good business, everything depends on how the company maintains its growth and profits,” Kamat said. At present, the second wave of COVID looks favorable for the IPO.”

Zomato’s performance in FY 2020 was excellent
Zomato’s FY20 revenue grew two-fold to USD 394 million (approximately Rs 2,960 crore) from the previous fiscal, while earnings before interest, tax, depreciation and amortization (EBITDA) stood at around Rs 2,200 crore in February , Zomato had raised USD 250 million (over Rs 1,800 crore) in funding from Tiger Global, Quora and others, valued at USD 5.4 billion.