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.
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.
Read all about how the Indian startup ecosystem is battling the second wave of COVID-19 here.
Here are some useful tools to help you find the nearest vaccine centres in real-time.
You can also share a tribute to COVID-19 warriors, saviours, and survivors here.
The Interview
Find out why there is a boom in the creator's economy from influencer Sejal Kumar as she shares her insights about content planning and the influencer world on this episode of #Influencers Inc by YourStory.
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.
Rajesh Yabaji
Startup Spotlight
Providing end-to-end support services to patients
Right from diagnosis and consultation to surgery and recovery, many medical procedures require supporting patients throughout the process. This is why Dr Vaibhav Kapoor, Dr Garima Sawhney, and Harsimarbir Singh started Pristyn Care in 2018.
The startup provides end-to-end support services such as diagnostics support, complete health insurance, claims processing, hospital admission paperwork from the comfort of home, cab pick-up and drop for surgery, medicine delivery at home, and free post-surgery consultation. Read more.
Illustration: YS Design
News & Updates
- In a tweet, OYO Founder Ritesh Agarwal advised entrepreneurs that they are going to face rejection most of the time, and they should get used to it. He said that during his early days at OYO, nearly 80 percent of the VCs rejected him.
- With a goal to reduce the carbon footprint of its logistic operations and achieve sustainability, VegEase, a cart-at-home e-grocery startup, is deploying EVs in its last-mile logistics.
- 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.”
— Deepinder Goyal, Founder and CEO, Zomato
Now get the Daily Capsule in your inbox. Subscribe to our newsletter today!