'Triple Breakfast': Zomato CEO Deepinder Goyal turns to stress eating ahead of IPO opening

Stress eating is when people consume food to help them cope with stressful conditions. It is a common coping mechanism, and even some of the most successful businessmen, like Zomato's CEO, have admitted to doing it. Goyal's stress eating comes as Zomato prepares to launch an initial public offering (IPO) valued at Rs 9,375 crore. The IPO will give Zomato a valuation of Rs 64,365 crore and is being touted as the second-biggest since SBI Cards and Payment Services' Rs 10,341 crore issue in March 2020. Zomato CEO Deepinder Goyal wrote on Twitter:

The unicorn-founders, Kunal Shah, Kunal Bahl, and Vijay Shekhar Sharma also tweeted uplifting Goyal's spirits. Deepinder tweeted early on Wednesday morning with a giant smiley about purchasing a "triple breakfast" as stress eating, and CRED creator Kunal Shah responded with a GIF of people cheering. "You will rock," said Snapdeal founder Kunal Bahl.

As Paytm prepares for its IPO, Paytm CEO Vijay Shekhar Sharma tweeted, "Make it large, Deepi!. Best wishes for a superb listing. Rooting for you man #ZomatoIPO."

Deepinder's stress-relieving breakfast binge elicited a flurry of responses on Twitter, with plenty of humour mixed in.

There have been some discussions regarding how Zomato's IPO would encourage other firms to go public. Deepinder's Twitterati also had a good time requesting a "free cake," while some joked that the founder "will not have to insert the promo code for anything that he orders."

Others, who aren't huge on eating out, are considering ordering from Zomato as a result of the IPO.

Zomato's IPO launch date, details: all you need to know

On Wednesday, July 14, 2021, at 10 a.m., online meal delivery company Zomato will make its first public offering (IPO).
The IPO, which is India's largest this year, will be open for subscription until July 16, 2021. The Zomato IPO price band is set at Rs 72-76 per share of Rs 1 face value, with the business aiming to raise Rs 9,375 crore through the offering.

In the red herring prospectus, the IPO consists of a fresh issue of equity shares worth Rs 9,000 crore and an offer for sale (OFS) of Rs 375 crore by current investor Info Edge (India), which is the parent company of Naukri.com. 

The anchor component of the IPO was open on Tuesday, July 13, 2021, prior to the IPO. According to stock exchange records, Zomato raised approximately Rs 4,196 crore (Rs 41,96,51,86,380) from 186 anchor investors in exchange for 55,21,73,505 equity shares at Rs 76 apiece.

The anchor investors include Tiger Global Investment Fund, Blackrock, Fidelity, JPMorgan, Morgan Stanley, T Rowe Price, Canada Pension Plan Investment Board, Government of Singapore, SBI Mutual Fund, Axis Mutual Fund, Kotak Mutual Fund, UTI Mutual Fund, Motilal Oswal AMC, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Tata Mutual Fund, Goldman Sachs India, Abu Dhabi Investment Authority, Franklin Templeton, HSBC Asset Management (India), to name few of them.