AUGUST 20218ZOMATO IPO TO LAUNCH ON JULY 14 WITH SHARES PRICED AT INR 72-76 PER PIECEOn July 14, Zomato Ltd. will begin its three-day ini-tial public offering (IPO), making the online food aggregator one of the first Indian startup unicorns to list on national stock exchanges.The Gurugram-based firm hopes to raise up to Rs 9,375 crore by issu-ing new stock and an offer for sale at Rs 72-76 per share. At the upper end of this price range, Zomato is likely to be valued at nearly $9 billion.Investors can place a bid with as few as one lot of 195 equity shares. One lot can cost up to 14,820 at a price of 76 per share. While qualified institutional buy-ers will receive 75% of the Zomato IPO, non-institutional investors can bid for up to 15% of the shares on offer. Retail investors have been al-located 10% of the stock. Employ-ees can purchase up to 6.5 million shares.According to Zomato's red her-ring prospectus (RHP), the issue will consist of a 9,000 crore ($1.2 billion) fresh issue and a 375 crore offer for sale (OFS or secondary issue) by its largest promoter Info Edge. The company has also set aside approxi-mately 6.5 million shares for its em-ployees. The offer is set to expire on July 16.Before entering the public mar-ket, RHP must be filed with the market regulator Securities and Ex-change Board of India (SEBI). It dis-closes the IPO date, price, and most recent financial data.This is the second document to be filed, following the draft red her-ring prospectus (DHRP), which con-tains information about the com-pany and seeks approval for a public offering.Through this IPO, Zomato's ini-tial offer was to raise 8,250 crore ($1.1 billion). The company's DRHP, which was filed on April 28 of this year, stated that the issue would in-clude a new 75,000 crore issue.Info Edge, which owns about 18.7 percent of Zomato, was planning to sell shares worth 750 crore. However, the offer was revised earlier this week.The offering's global coordinators and book-running lead managers are Kotak Mahindra Bank, Morgan Stan-ley India, and Credit Suisse Securities. Book-running lead managers are BofA Securities and Citigroup Global Mar-kets. The shares will be listed on the BSE and the NSE before the end of the month. BUDDING BIZZ
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