Zomato IPO Likely On 19 July; Company Plans A Spike In Valuation To $10 Billion

Gurugram-based online food ordering platform Zomato is said to be seeking a valuation of $10 billion for its soon-to-be-launched initial public offering (IPO), reports Livemint.

The much-awaited IPO is expected to open for subscription on 19 July at a price band of Rs 70-72 per share.

This would mark a steep rise from the $8 billion valuation that the company was said to be seeking about three months ago. It would also be much higher than the $5.4 billion valuation the company had commanded during a fund-raising round closed in bygone February.

This comes as Zomato's has seen a surge in the past six months with a surge in online food-ordering, restaurant bookings and subscriptions for Zomato Pro.

The listing of Zomato will see the company dilute 10-15 per cent of its shareholding. This will largely be done through fresh issuance of shares and also by an offer for sale (OFS) by its early investor Info Edge (India) Limited.

Zomato's listing on the bourses will be significant as it will be the first IPO from the growing list of Indian unicorn startups. Other than these, the likes of Paytm, Flipkart, Policybazaar and Nykaa are also gearing to go public in coming times.