The largest-ever fresh fundraising through an IPO was by Reliance Power at Rs 10,123 crore in 2008
Samie Modak |
Last Updated at April 29, 2021 00:40 IST
File photo of a Zomato delivery executive
Zomato’s proposed initial public offering (IPO) comprises a fresh fund raise to the tune of Rs 7,500 crore — the third-largest for the domestic IPO market. The largest-ever fresh fund raise through an IPO was by Reliance Power at Rs 10,123 crore in 2008, followed by realty major DLF, which issued fresh shares worth of Rs 9,188 crore a year earlier.
State-owned firms Coal India and General Insurance Corporation of India (GIC Re) hold the record for biggest and second-biggest IPOs. Both issues were dominated by share sales by the government. Zomato’s IPO comprises a Rs 750-crore worth secondary share sale by InfoEdge India.
In terms of overall size, the food delivery company’s IPO at Rs 8,250 crore would rank ninth biggest and the biggest since SBI Cards & Payment Services more than a year ago.
Zomato, however, said it might raise Rs 1,500 crore by way of a pre-IPO placement. This could reduce the potential IPO size to that extent, and the company will slip down the IPO league tables in terms of the biggest fundraise.
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First Published: Thu, April 29 2021. 00:36 IST