Zomato shares decline as Swiggy receives approval for Rs 11,450 crore IPO from SEBI
Zomatos shares are in focus as the companys rival firm Swiggy has received SEBIs go-ahead for its IPO.
Zomato shares are in focus in Wednesday's session (September 25) as the company's rival Swiggy has received SEBI's go-ahead for Rs 10,450 crore IPO.
As per reports the company on a confidential basis filed the offer document on April 30. Nonetheless, reports suggest that the company is looking to raise around Rs 11,000 crore IPO, with Rs 5000 crore fresh issue component.
At the last count, shares of Zomato after gaining by a tad were down over 2 per cent at Rs 284.4 per share.
Zomato versus Swiggy as decoded by Anil Singhvi
The expert held that Swiggy's valuation is at Rs 55,000 crore with a loss at Rs 2,350 crore, while Zomato commands as a valuation of Rs 2.5 lakh crore, nearly 5 times and profitability is to the tune of Rs 350 crore.
Furthermore, both the players are sitting nearly around the same revenue, with Zomato's income at Rs 12,114 crore, while Swiggy's revenue is at Rs 11,247 crore. Notably, while Zomato's market share is 55 per cent, Swiggy holds a 45 per cent share.
The HNI investor category has high hopes from the stock of Swiggy as the likes of Amitabh Bachchan, Madhuri Dixit, Karan Johar, Rahul Dravid, Jaheer Khan have invested into the stock.
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