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5 steps to invest in Zomato’s IPO through Upstox

Zomato’s IPO will open for subscription on July 14 and close on July 16

  • The price band for the issue is fixed at ₹72–76 per share 
  • It aims to raise a total of ₹9,375 crore ($1.3 billion)

India’s initial public offering (IPO) market has seen an upward trend in June and July after a lull of two months in FY22. The monsoon has brought cheer to the IPO market and with this, there is a huge opportunity for retail investors and traders to buy stocks at the offer price. 

The IPO of Zomato, the food-tech unicorn, is set to open for subscription onJuly 14, 2021. The company is offering shares with a face value of ₹1 in the price band of ₹72–₹76 each to raise a total of ₹9,375 crore. The bid can be placed with a minimum of 1 lot, which consists of 195 shares. The shares will be listed tentatively on July 27, 2021.

According to Zomato’s red herring prospectus, the issue will consist of fresh equity worth ₹9,000 crore and an offer for sale (OFS) of ₹375 crore from its promoter Info Edge. The company has also set aside approximately 6.5 million shares for its employees. 

Indian companies have raised ₹27,417 crore through IPOs in 2021 (Jan-Jun), which is 1.65 times higher as compared to ₹10,341 crore raised in 2020 (Jan-Jun). This rise can be attributed to market liquidity, aided by both foreign and retail investors. The gradually recovering economy has boosted investor sentiments, making it an opportune time for companies to list on stock exchanges.

Broking firms like Upstox offer the option of investing in IPOs through their platform. With over 4 million customers, Upstox is one of India’s largest investment platforms, founded with the vision of making financial investing easy, equitable, and affordable to all Indian investors. 

Here are the 5 simple steps to invest in an IPO via Upstox:

Step 1: Login to the Upstox application or website with your credentials. 

Step 2: Select the IPO that you want to invest in and create an IPO application.

Step 3: Add up to 3 bids within the price range.

Step 4: Confirm your application.

Step 5: Accept the UPI mandate and block funds on your mobile UPI app.

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