Food delivery company Jomato is set to open its initial public offering on July 14, which will be the 27th public release in 2021.
BDM, which is the largest IPO to date or owned by Vijay Sehgar Sharma, plans to go public.
Through this IPO, Zomato is looking to raise Rs 8,250 crore and pay Rs 72-76 per share with 195 times. The ant board-backed food sorting platform has seen significant growth over the past few years to capture Somato and Zwicky market share.
Here are the key points ahead of its IPO:
- Gurugram-based start-up plans to use the proceeds for organic and mineral development and other institutional contracts.
- For this IPO, the price group has been set at Rs 72-76 per share.
- The company’s chief financial officer (CFO) said at a recent press conference that Jomato would have a post-release of Rs 15,000 crore in cash.
- The total IPO is worth Rs 9,375 crore, including a new issue of Rs 9,000 crore worth of equity shares and an offer to sell InfoEdge (India) Ltd for Rs 375 crore, Somato said.
- Zomalto’s estimated IPO will be Rs 64,365 crore on a fully diluted basis, along with other listed companies in the food segment, such as Jubilant Foodworks (with a market capitalization of Rs 41,006 crore) and Burger King India (Rs 6,627 crore).
- Jomato’s fiscal year 20 revenue rose to $ 394 million (approximately Rs 2,960 crore) from the previous fiscal year, while pre – loss, interest, tax, depreciation and debt (EPIDTA) revenue stood at about Rs 2,200 crore.
- In February, Jomato raised $ 250 million (over Rs. 1,800 crore) from Tiger Global, Cora and others, valued the online food sorting platform at $ 5.4 billion (approximately Rs. 40,000 crore).