Food-tech platform Zomato raises Rs 4,197 crore from anchor investors ahead of IPO

Food delivery platform Zomato that is opening its IPO today has raised Rs 4,197 crore from 186 anchor investors.

The Gurgaon-based platform informed the stock exchanges that it had allotted 55.22 crore equity shares to anchor investors for Rs 76 per equity share.

The funds raised through anchor investors are almost 45% of the total issue size. Overall, 75% of the issue size is reserved for qualified institutional buyers, while 25% of shares have been reserved for high net worth individuals and retail investors.

Must Read: Zomato’s IPO kicks off on 14th July: why you should subscribe it

New World Fund, Tiger Global Investment Fund, Fidelity Fund, Baillie Gifford Pacific Fund, Morgan Stanley Investment Fund, Canada Pension Plan Investment Fund, Government of Singapore, Kotak Flexicap Fund, to name a few, were allotted more than 2% of the anchor book.

Out of the total allocation, 18.41 crore shares were allotted to 19 domestic mutual funds such as SBI, Axis, Aditya Birla, Kotak, Mirea, Motilal, UTI, Nippon India, HDFC, IIFL, Sundaram, Tata, and Principal, among others.

The food-tech platform’s IPO will open for subscription today i.e, 14 July, and close on Friday, July 16, 2021.

The price band of Zomato IPO is being fixed at Rs 72-76 per share of the face value of Rs 1 each. The Rs 9,375 crore 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).