Zomato share listing: Company's top execs set to become millionaires after blockbuster IPO

Zomato's public issue saw a blazing response from investors. The food delivery startup's IPO was oversubscribed more than 38 times, generating Rs 2.13 lakh crore worth of bids. As Zomato is set for its stock market debut, the top executives of the online food ordering platform are likely to become millionaires.

Stocks of Zomato will list on Friday, July 23. The Zomato IPO comprises Rs 9,000 fresh equity shares and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge (India). Zomato has fixed the initial public offering (IPO) price at Rs 76 per share.

Meet Zomato's millionaires

At this value, co-founder and chief executive Deepinder Goyal, who owns a 5.5% stake in the company, could rake in more than Rs 2,808 crore, according to the red herring prospectus (RHP).

Zomato's chief financial officer, Akshant Goyal, who joined the company on April 1, 2017, holds employee stock options worth over Rs 100 crore. Ankit Kwatra, the founder and director of Zomato Feeding India, has options worth Rs 2,800 crore, as per the RHS. 

Zomato's co-founder and head of new businesses Mohit Gupta, who has been working with the restaurant discovery platform since July 2018, has ESOPs worth Rs 207.8 crore. Other co-founders Gaurav Gupta and Gunjan Patidar have options worth Rs 202.4 crore and Rs 156.2 crore, respectively.

Badminton player and coach Vijay Lancy, who is associated with Zomato-acquired sports facility discovery app Fitso, has ESOPs worth Rs 74 crore.

The Deepinder Goyal-led company said that it will use the money generated by fresh issues for funding growth initiatives. The food aggregator is the first new-age start-up to put its foot on Indian markets, paving way for others, including Policybazar, Mobikwik and Paytm.

The Gurugram-based firm was incorporated in 2008 by Pankaj Chaddah and Deepinder Goyal. Currently, the startup has a presence in 26 countries globally.