Today, Zomato’s initial public offering will start. Before the opening of its IPO, Zomato has collected Rs 4196 crore from its 186 anchor investors. Tiger Global, JP Morgan, Kotak Funds, Blackrock, Government of Singapore and others took part in the anchor investor portion.
Anchor Investment Event by Zomato
Today is a big day for online food delivery giant Zomato. In the Indian startup history, Zomato will be the first food tech firm to start its public offering. Before that, the food giant has closed the Rs 4196 crore anchor investment event led by marquee investors including HDFC, Tiger Global, ICICI, SBI, Blackrock funds, Morgan Stanley, and others.
Zomato targets to collect Rs 9375 crore including anchor investment from its IPO starting July 14. Out of that, Rs 9000 crore Is a fresh issue, while Rs 375 core of offer for sale from existing investor Info Edge.
Zomato has submitted the documents to the stock exchange regarding the anchor investment funding raise. The food giant informed the exchange authorities that it has sold 55.21 crore equity shares under the anchor book portion at Rs 76 per share price. That means Zomato has already sold 44.7% of total proposed equity shares.
More Details about Zomato’s IPO
Zomato has also revealed that it has allotted 18.4 crore shares from the anchor portion to domestic funds, which’s 33% of the total anchor book. SBI Blue Chip Fund, Aditya Birla Sun Life, Axis Mutual Fund, Kotak, and HDFC are some of the key domestic investors that have some stakes in Zomato via the anchor book portion.
Zomato and Swiggy are the major players in the online food delivery market of India. Zomato is marginally ahead of Swiggy to become the leader of online food delivery. But, the firm is still under debt and it did not turn profitable yet.
After a successful start of Zomato’s IPO today, it will record its name in the stock market industry as the first tech unicorn from India listed in the domestic market.
Zomato has reserved 75% of its IPO offering to Qualified Institutional Buyers(QIB), while 15% is reserved for Non-Institutional Investors(NII). The remaining 10% is for retail investors.