Indian food delivery company Zomato's initial public offering is priced at 72 to 76 rupees per share, giving it a valuation of as much as US$7.98 billion, the company said on Thursday, as it cashes in on a pandemic-led surge in online ordering.
Zomato, backed by China's Ant Group and one of India's most prominent startups, said its offer will include a fresh issue of shares worth up to 90 billion rupees and a share sale worth up to 3.75 billion rupees by top shareholder Info Edge , taking the total offering to 93.75 billion rupees according to a filing https://www.bseindia.com/downloads/ipo/Zomato_RHP_070720212008.pdf.At the upper end of the price range, Zomato's market value comes up to 596.
"While we had a footprint across 23 countries outside India as of March 31, 2021, we have taken a conscious strategic call to focus only on the Indian market going forward," Zomato said in its prospectus.