The wait for O Tomato’s IPO is over, Price Band opens on 14th with Rs 72 -76, face of stock

O Tomato IPO: The wait for the online food delivery platform Zomato Limited’s IPO is now over. Its IPO opens for subscription on July 14 and closes on July 16. The price list for this is set at 72-76 per share. Let us tell you that Oma Tomato was approved by market regulator SEBI last week to raise funds through the IPO. The face value of the shares is Rs. At least 195 equity shares must be bid and then bids can be placed in multiples of 195.

Let us tell you that the platform is planning to raise Rs 9375 crores per share through an issue of Rs 72-76 per share. The issue proposal includes new equity shares and an offer for sale (OFS) of InfoEdge, the parent company of Investors of the company include Information Edge, Sequoia, Ant Financials and Uber, and the company has no promoters.

In the company’s mega IPO, 75 percent is reserved for qualified institutional buyers (QIB) and 15 percent for non-institutional investors (NIBs). 10% of the public issue is reserved for retail investors. 65 lakh shares of stock are reserved for the employees of the company in the IPO.

In the fiscal year 2020, the Tomato will cost Rs 2742 crore. At the time of the epidemic, the company was worth Rs 1367 crore. Has gained and yet the Zomato Company is at a loss.

Foreign broker and research firm Jefferies said earlier this year that Zomato’s IPO was India’s first significant Internet listing. According to Jefferies, food distribution is a strong base of more than 80 percent of the company’s revenues, but now there may be fierce competition in the sector. According to Jefferies, only two companies – Oma Tomato and Swiggy – have food distribution in India, but competition may soon increase.

According to the brokerage firm, the amount of food consumed in India is equal to India’s quarterly GDP and only 10 percent of it is spent on food services. This is 50 percent higher than spending in the US and China.

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