Exclusive | Zomato to raise $560 million from anchor Investors for IPO: Sources

Zomato garners almost half its issue size of around $560 million from institutional investors at the upper end of the price band of Rs 76/share.

Startup IPO frenzy kick-starts with the first unicorn, food delivery platform Zomato’s IPO launch on July 14. Sources have told Moneycontrol that Zomato received a strong response from global institutional investors for its anchor book.

Zomato garners almost half its issue size of around $560 million from institutional investors at the upper end of the price band of Rs 76/share. Over 100 end investors to be allotted shares as part of the anchor book for its IPO.

Moneycontrol has learnt that top foreign investors in Zomato’s anchor book include Baillie Gifford, BlackRock, Capital Research, CPPIB, GIC, T Rowe Price.

Top domestic investors include mutual funds and insurance companies like Axis MF, HDFC MF, Birla MF, Nippon, HDFC Life, ICICI Pru Life.

In an e-mail response to Moneycontrol, Zomato’s spokesperson said, “We have no comments to offer here.”

Zomato eyes Rs 64,365 cr or $8.7 billion post money valuation. Zomato’s IPO issuance is worth Rs 9,375 cr at a price band of Rs 72-76. Zomato’s IPO to be open from July 14 to 16.