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Zomato's IPO Set To Open On 14 July As Food Delivery Major Eyes $10 Billion Valuation: Report
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The initial public offering (IPO) for food delivery major Zomato is set to open on 14 July and close on 16 July, reports Economic Times.
The stock of the company will reportedly be listed before the end of the current month, most likely by 27 July, as per the SEBI rules, market sources were quoted in the report as saying.
According to the report, the shares of the food delivery major, in which tech firm Info Edge holds a substantial stake, are being offered at a price band of Rs 72-76 each.
Zomato reportedly aims to raise about Rs 9,375 crore from the IPO. Further, of the total issue size, shares worth about Rs 375 crore are in an offer for sale (OFS) by the food delivery major.
The development comes as Zomato had earlier on 2 July received market regulator SEBI's nod to launch its IPO.
The company is eyeing a market valuation in the range of $8 to $10 billion or about Rs 60,000 to Rs 75,000 crore after the listing.
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