<p>Food delivery platform Zomato's Rs 9,375-crore initial public offering - India's biggest this year - will open on Wednesday amid buzz of strong response from global institutional investors.</p>.<p>The IPO will be open for subscription till July 16.</p>.<p>At Rs 72-76 per share price band, the company aims to raise Rs 9,375 crore through the offer.</p>.<p>The company backed by Jack Ma's Ant Group Co will be among the first from a long list of Indian unicorn startups to launch an IPO. It will also be the first among Indian online food aggregators.</p>.<p>The IPO, which will give Zomato a valuation of Rs 64,365 crore, is being touted as the second-biggest since SBI Cards and Payment Services' Rs 10,341 crore issue in March 2020. It will surpass Indian Railway Finance Corp offering in January.</p>.<p><strong>Also read —<a href="https://www.deccanherald.com/business/business-news/zomato-eyes-grocery-rollout-invests-rs-745-crore-in-grofers-1006819.html" target="_blank"> Zomato eyes grocery rollout, invests Rs 745 crore in Grofers</a></strong></p>.<p>Post-IPO, the valuation of Zomato will be more than the combined market capitalisation of five listed fast food and restaurant companies.</p>.<p>Jubilant FoodWorks Ltd, which is the master franchise for Domino's Pizza in India, had a market capitalisaiton of Rs 40,770.52 crore on Tuesday, according to BSE data.</p>.<p>Burger King India Ltd had Rs 6,659.88 crore m-cap, fast food restaurant holding company Westlife Development Ltd (Rs 8,380.89 crore), Barbeque-Nation Hospitality (Rs 3,375.48 crore) and Speciality Restaurants had Rs 336.69 crore m-cap.</p>.<p>The Zomato IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge (India), which is the parent company of Naukri.com, according to the information provided in the draft red herring prospectus.</p>.<p>Sources said the IPO has received a strong response from global institutional investors for its anchor book.</p>.<p>The Zomato IPO will have 75 per cent reservation for qualified institutional buyers (QIBs) and 15 per cent for non-institutional investors (NIIs). The remaining 10 per cent of the issue will be available for retail investors.</p>.<p>The restaurant aggregator has said it will utilise the net proceeds from the fresh issue for funding organic and inorganic growth initiatives (Rs 6,750 crore) and general corporate purposes.</p>.<p>Zomato's 2019-20 revenue had jumped over two-fold to $394 million (around Rs 2,960 crore) from the previous fiscal year, while its earnings before interest, taxes, depreciation and amortisation (EBITDA) loss was around Rs 2,200 crore.</p>.<p>In February, Zomato had raised $250 million (over Rs 1,800 crore) in funding from Tiger Global, Kora and others, valuing the online food ordering platform at $5.4 billion (around Rs 40,000 crore). </p>
<p>Food delivery platform Zomato's Rs 9,375-crore initial public offering - India's biggest this year - will open on Wednesday amid buzz of strong response from global institutional investors.</p>.<p>The IPO will be open for subscription till July 16.</p>.<p>At Rs 72-76 per share price band, the company aims to raise Rs 9,375 crore through the offer.</p>.<p>The company backed by Jack Ma's Ant Group Co will be among the first from a long list of Indian unicorn startups to launch an IPO. It will also be the first among Indian online food aggregators.</p>.<p>The IPO, which will give Zomato a valuation of Rs 64,365 crore, is being touted as the second-biggest since SBI Cards and Payment Services' Rs 10,341 crore issue in March 2020. It will surpass Indian Railway Finance Corp offering in January.</p>.<p><strong>Also read —<a href="https://www.deccanherald.com/business/business-news/zomato-eyes-grocery-rollout-invests-rs-745-crore-in-grofers-1006819.html" target="_blank"> Zomato eyes grocery rollout, invests Rs 745 crore in Grofers</a></strong></p>.<p>Post-IPO, the valuation of Zomato will be more than the combined market capitalisation of five listed fast food and restaurant companies.</p>.<p>Jubilant FoodWorks Ltd, which is the master franchise for Domino's Pizza in India, had a market capitalisaiton of Rs 40,770.52 crore on Tuesday, according to BSE data.</p>.<p>Burger King India Ltd had Rs 6,659.88 crore m-cap, fast food restaurant holding company Westlife Development Ltd (Rs 8,380.89 crore), Barbeque-Nation Hospitality (Rs 3,375.48 crore) and Speciality Restaurants had Rs 336.69 crore m-cap.</p>.<p>The Zomato IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge (India), which is the parent company of Naukri.com, according to the information provided in the draft red herring prospectus.</p>.<p>Sources said the IPO has received a strong response from global institutional investors for its anchor book.</p>.<p>The Zomato IPO will have 75 per cent reservation for qualified institutional buyers (QIBs) and 15 per cent for non-institutional investors (NIIs). The remaining 10 per cent of the issue will be available for retail investors.</p>.<p>The restaurant aggregator has said it will utilise the net proceeds from the fresh issue for funding organic and inorganic growth initiatives (Rs 6,750 crore) and general corporate purposes.</p>.<p>Zomato's 2019-20 revenue had jumped over two-fold to $394 million (around Rs 2,960 crore) from the previous fiscal year, while its earnings before interest, taxes, depreciation and amortisation (EBITDA) loss was around Rs 2,200 crore.</p>.<p>In February, Zomato had raised $250 million (over Rs 1,800 crore) in funding from Tiger Global, Kora and others, valuing the online food ordering platform at $5.4 billion (around Rs 40,000 crore). </p>