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2021-07-08

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Ant Group-backed Zomato aims IPO at valuation of almost $8 bln

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please","highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/149436888","repostId":2149346746,"repostType":4,"repost":{"id":"2149346746","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625738247,"share":"https://www.laohu8.com/m/news/2149346746?lang=&edition=full","pubTime":"2021-07-08 17:57","market":"us","language":"en","title":"Ant Group-backed Zomato aims IPO at valuation of almost $8 bln","url":"https://stock-news.laohu8.com/highlight/detail?id=2149346746","media":"Reuters","summary":"BENGALURU, July 8 (Reuters) - Indian food delivery company Zomato's initial public offering $(IPO.UK","content":"<p>BENGALURU, July 8 (Reuters) - Indian food delivery company Zomato's initial public offering <a href=\"https://laohu8.com/S/IPO.UK\">$(IPO.UK)$</a> is priced at 72 to 76 rupees per share, giving it a valuation of as much as $7.98 billion, the company said on Thursday, as it cashes in on a pandemic-led surge in online ordering.</p>\n<p>Zomato, backed by China's Ant Group and <a href=\"https://laohu8.com/S/AONE\">one</a> 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 (India) , taking the total offering to 93.75 billion rupees($1.25 billion) according to a filing</p>\n<p>At the upper end of the price range, Zomato's market value comes up to 596.23 billion rupees ($7.98 billion), with subscription set to open on July 14.</p>\n<p>Zomato, launched in 2008, collates restaurant reviews and offers home delivery of food, making it a competitor to Accel-backed Swiggy and Amazon.com's food delivery service.</p>\n<p>\"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.</p>\n<p>In India, an ongoing wave of COVID-19 has pushed many patrons towards ordering in, a trend that has helped companies like Zomato and its peers.</p>\n<p>The company had filed for an IPO in late April.</p>\n<p>\"In terms of valuation, financials, and future business prospects, we feel things are going to look good for Zomato in the near-term,\" said Shikher Jain, manager, fundamental equity research at Anand Rathi in Mumbai.</p>\n<p>The chief of Oyo Hotels, another well-known Indian startup, said on Wednesday upcoming IPOs would be looked at very closely as the SoftBank -backed hospitality firm is considering a potential offering.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAnt Group-backed Zomato aims IPO at valuation of almost $8 bln\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-08 17:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BENGALURU, July 8 (Reuters) - Indian food delivery company Zomato's initial public offering <a href=\"https://laohu8.com/S/IPO.UK\">$(IPO.UK)$</a> is priced at 72 to 76 rupees per share, giving it a valuation of as much as $7.98 billion, the company said on Thursday, as it cashes in on a pandemic-led surge in online ordering.</p>\n<p>Zomato, backed by China's Ant Group and <a href=\"https://laohu8.com/S/AONE\">one</a> 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 (India) , taking the total offering to 93.75 billion rupees($1.25 billion) according to a filing</p>\n<p>At the upper end of the price range, Zomato's market value comes up to 596.23 billion rupees ($7.98 billion), with subscription set to open on July 14.</p>\n<p>Zomato, launched in 2008, collates restaurant reviews and offers home delivery of food, making it a competitor to Accel-backed Swiggy and Amazon.com's food delivery service.</p>\n<p>\"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.</p>\n<p>In India, an ongoing wave of COVID-19 has pushed many patrons towards ordering in, a trend that has helped companies like Zomato and its peers.</p>\n<p>The company had filed for an IPO in late April.</p>\n<p>\"In terms of valuation, financials, and future business prospects, we feel things are going to look good for Zomato in the near-term,\" said Shikher Jain, manager, fundamental equity research at Anand Rathi in Mumbai.</p>\n<p>The chief of Oyo Hotels, another well-known Indian startup, said on Wednesday upcoming IPOs would be looked at very closely as the SoftBank -backed hospitality firm is considering a potential offering.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149346746","content_text":"BENGALURU, July 8 (Reuters) - Indian food delivery company Zomato's initial public offering $(IPO.UK)$ is priced at 72 to 76 rupees per share, giving it a valuation of as much as $7.98 billion, the company said on Thursday, as it cashes in on a pandemic-led surge in online ordering.\nZomato, 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 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near-term,\" said Shikher Jain, manager, fundamental equity research at Anand Rathi in Mumbai.\nThe chief of Oyo Hotels, another well-known Indian startup, said on Wednesday upcoming IPOs would be looked at very closely as the SoftBank -backed hospitality firm is considering a potential offering.","news_type":1},"isVote":1,"tweetType":1,"viewCount":160,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":13,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/149436888"}