India’s first unicorn IPO is here
Today is a momentous day for India’s startup ecosystem as Zomato becomes the country’s first unicorn to go public. The much-awaited public listing has been advanced from July 27 to July 23, after a strong investor response from July 14-16.
It will be some of Zomato's 169,802 delivery partners who will ring the opening bell digitally at the startup’s stock-listing ceremony.
Between July 14 and July 16, Zomato’s IPO, which was subscribed 44 times across all categories, was priced in the range of Rs 72-76 to raise Rs 9,375 crore. Of this, Rs 9,000 crore comprises fresh equity shares and Rs 375 crore comes from a secondary share sale by Info Edge. Zomato will have a post-issue valuation of Rs 64,365 crore.
The company has already raised Rs 4,197 crore from anchor investors, including marquee names such as Tiger Global, New World Fund, Fidelity, and domestic mutual funds such as HDFC, SBI, and Axis.
Investors can visit the official website of BSE, go to the ‘status of issue application’ page, select the equity option, and select Zomato Limited to find out whether they have been allotted the shares. They can also check on the online portal of Link Intime India Private Limited, the registrar for the issue.
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Editor’s Pick: BlackBuck joins the unicorn club
After raising Series E funding of $67 million, online trucking startup BlackBuck became the latest entrant to the coveted unicorn club. The company will use these funds to further penetrate the market and launch new service offerings for its customer base.
With BlackBuck, the Indian startup ecosystem already has 16 new unicorns this year. Read more.
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Illustration: YS Design
News & Updates
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- Women are facing the brunt of the COVID-19 crisis, with total global female employment 13 million lower than in 2019, whereas male employment has mostly recovered to pre-pandemic levels, ILO report revealed.
- Instagram is testing its new Collab feature in India and the UK to allow users to invite a collaborator to their Feed Post and Reels so they can share content with both their followers.
- ITC is planning to launch a customisation feature on the ITC e-store, the Kolkata-based conglomerate’s D2C platform launched last year, to keep up with the surge in online shopping during the COVID-19 pandemic.
Before you go, stay inspired with…
“We continue to take feedback from our delivery partners and work towards making necessary changes – big or small, whatever may be the need of the hour to make Zomato a more inclusive workplace.”