Zomato raises Rs 4,196 cr by allotting 55.22 crore shares to anchor investors

KS Badri Narayanan Chennai | Updated on July 14, 2021

Raises funds at Rs 76 a share

The Rs 9,375-crore IPO of Zomato, which opens for subscription today, on Tuesday raised Rs 4,196.51 crore from 186 anchor investors by allotting about 55.22 crore shares. Zomato IPO, the largest in 16 months after SBI Cards and Payment Services, has raised the funds at Rs 76 a share, the upper end of the price band of Rs 72-76.

New World Fund Inc, American Fund Insurance series, Government of Singapore, Canadian pension funds such as Canada Pension Plan Investment Board and OMERS, BlackRock Global Funds, T Rowe Price, Fidelity, Aberdeen Global Indian Equity, Baillie Gifford, Steadview Capital, Goldman Sachs, Neuberger Berman, JP Morgan, Abu Dhabi Investment Authority and Pinebridge Global Funds were some of the global investors who participated in the anchor book.

The domestic investors included Axis MF, HDFC Trustee, SBI MF, Aditya Birla Sun Life, ICICI Prudential, Kotak MF, Nippon Life India and SBI Life Insurance.

Offer details

The offer comprises a fresh issue of Rs 9,000 crore and an offer for sale of Rs 375 crore by Info Edge. The net proceeds from fresh issue will be utilised towards funding organic and inorganic growth initiatives (Rs 6,750 crore) and general corporate purposes, the company said in the offer document.

Info Edge has reduced its offer for sale size by half to Rs 375 crore in Zomato's initial public offering, from the earlier size of Rs 750 crore. InfoEdge holds 18.4 per cent in Zomato.

Published on July 14, 2021

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