Zomato had issued shares at ₹76 a piece; this could see co-founder Deepinder Goyal bag well over ₹2,800 crore after the listing
Zomato will be listed on Indian stock market on July 23. The company completed allotment of shares of its public issue on Thursday. Investors can check their share allotment status at the website of Link Intime India Private Limited, the registrar to the issue.
"Trading Members of the Exchange are hereby informed that effective from Friday, July 23, 2021, the equity shares of Zomato Limited shall be listed and admitted to dealings on the Exchange in the list of 'B ' Group of Securities," informed BSE today.
The food delivery aggregator's initial public offer was subscribed 38 times by the end of its issue on Friday last week. This made it a ₹9,375-crore issue, the second largest in the country since March 2020.
Now that the Deepinder Goyal-led restaurant search and food delivery platform is set for its stock market listing on July 23, major shareholders are could be looking at windfalls reaching up to several crores of rupees.
Zomato issued shares at ₹76 apiece. At this value, employee stock options with co-founder and chief executive Deepinder Goyal could yield almost ₹2,808 crore, as per the red herring prospectus (RHP). Goyal owns 5.5 per cent stake in Zomato, the document shows.
Ankit Kwatra, the founder of Feeding India that was acquired by Zomato, has the the second-highest options at ₹628 crore. Other co-founders - Mohit Gupta, Gaurav Gupta, and Gunjan Patidar - have ESOPs worth 207.8 crore, ₹202.4 crore and ₹156.2 crore, respectively.
Zomato had elevated Pankaj Chaddah, Patidar, Gaurav and Mohit to the status of co-founders in the last one year. Chaddah had quit in 2018.
Chief Financial Officer Akshant Goyal holds options worth over ₹100 crore. Vijay Lancy, a badminton player and coach, holds ESOPs worth ₹3.92 crore. He is associated with Fitso, a sports facility discovery application that Zomato had acquired.
As per the RHP, Zomato has 3,755 employees on its payroll as of March 2021, of which 545 are in product and technology team. The company has conducted three ESOPs so far.
The first was Foodie Bay Employee Stock Option Plan in 2014, with 41,766 options. For each option exercised, 6,700 equity shares shall be allotted. The Zomato Employee Stock Option Plan in 2018 had 18,135 options, with each option offering 6,700 equity shares.
The Zomato Employees Stock Option Plan 2021 saw 50.25 crore, with one equity share being allotted against one option. Only Goyal was allotted 36.85 crore options from this category.
After several misses, Zomato saw a mega IPO last week. Retail investors bid 7.45 times while qualified institutional buyers (QIBs) bid almost 54 times the quota reserved for them. The non-institutional investors quota was subscribed 35 times.
Ahead of the issue, Zomato had raised ₹4,196 crore from 186 anchor investors. The grey market premium (GMP) stands at ₹23, according to market observers.
The Zomato IPO comprised a fresh issue of equity shares worth ₹9,000 crore and an offer-for-sale (OFS) worth ₹375 crore by existing investor Info Edge (India), the parent company of Naukri.com.
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