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Zomato IPO: delivery partners ring the opening bell digitally, and more

Unlike a typical listing ceremony, Zomato kept it a 'low-key' affair, and the bell was opened or ringed by the riders digitally.

Zomato IPO: delivery partners ring the opening bell digitally, and more

Friday July 23, 2021 , 4 min Read

“Everything that we’ve achieved till now, and everything that we’ll achieve from hereon, we owe it all to you - our customers, delivery partners, and restaurant partners," said Zomato in a message after opening its listing today on India's stock exchanges.

The message further read, "Today, on the day of our listing, we wish we could’ve brought everyone under a single roof. Since that’s not possible, we decided to bring a few of our customers, delivery partners, and restaurant partners to our “ringing the bell” ceremony. We thank everyone for your continuous love. Onwards and upwards! “

Unlike a typical listing ceremony, Zomato kept it a five-minute 'low-key' event, and the bell was opened or ringed by the 'riders' digitally. The company has a total of 169,802 active delivery partners, according to its prospectus.


Usually, the stock-listing ceremony, one of the most notable events for any company, witnesses keynotes from the management and bell-ringing by the founder or CXO of the company. The ceremony happens at the stock exchanges' convention centres, but this time it was a digital event from Zomato's Gurugram office.


Interestingly, Zomato has now become India’s first unicorn to launch an initial public offering (IPO).


The Zomato IPO was opened for subscription from July 14-16, and was subscribed 44 times across all categories. After getting a strong response to its initial public offering (IPO) from investors last week, the food delivery company started allotting the IPO on Thursday.


Here are all the things you need to know:

The financials

For the year ending March 31, 2021, Zomato’s total orders stood at 239 million with total gross order value of Rs 9,500 crore.


In FY21, the startup's revenue slipped over 20 percent to Rs 2,118.4 crore. But it managed to cut losses, recording Rs 816.4 crore, compared to Rs 2,385.6 crore last year.


As of March 31, 2021, Zomato had 389,932 active restaurant listings and a presence in 525 cities in India and 23 other countries.


The company reported net cash flow of Rs 78.55 crore. In its media briefing, Zomato executives said that after the successful IPO, Zomato will have $2 billion, or around Rs 15,000 crore in the bank.

We have 1200 open positions at Zomato right now, says Deepinder Goyal

Deepinder Goyal, Founder & CEO, Zomato

Application status

Investors can check their application status through the Bombay Stock Exchange (BSE) website as well as the Link Intime India Private Limited portal, the registrar for the issue. The registrar, a SEBI-registered entity, is qualified to act as such and carry out the allotment process as per the prospectus.


On the official website of the BSE, bidders need to go to the ‘status of issue application’ page and select the equity option. Select Zomato Limited on the page and put in the application, PAN number, DP Client ID or Account number/IFSC option to know about the share allotment.


Those who have not been allotted shares will get a refund and those who have been allotted will get the shares by Friday in their Demat account.

IPO response

Almost 20 percent of all applications for Zomato IPO, which closed for subscription on Friday with a strong investor interest across categories, went through stockbroking firm Zerodha.

Zomato's IPO was priced in the range of Rs 72 to Rs 76 to raise Rs 9,375 crore — Rs 9,000 crore worth of fresh issue of equity shares and Rs 375 crore of a secondary share sale by InfoEdge. The company is eyeing a post-issue valuation of Rs 64,365 crore.

The IPO received very strong subscription from qualified institutional investors, non-institutional investors, and retail investors, with each category being subscribed multiple times.


The company has already raised Rs 4,197 crore from anchor investors, which include marquee names such as Tiger Global, New World Fund, Fidelity, and domestic mutual funds such as HDFC, SBI, and Axis.

Other IPOs

Zomato will be followed by many other leading Indian startups that are gearing up to go public. Fintech unicorn Paytm unveiled its Draft Red Herring Prospectus (DRHP) where it announced plans to raise Rs 16,600 crore. Another Gurugram-based startup, Mobikwik, also filed for a Rs 1,900 crore IPO earlier this month while auto classifieds player CarTrade had filed for an IPO in May.


Edited by Megha Reddy