Zomato IPO Preview - Sharp Recovery Across Operational Metrics: ICICI Securities

Zomato logo is displayed on a food delivery rider's uniform (Photographer: Dhiraj Singh/Bloomberg)

Zomato IPO Preview - Sharp Recovery Across Operational Metrics: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Zomato’s Red Herring Prospectus hints at a continued sharp recovery across key operational metrics in March:

  1. restaurant count,

  2. monthly active users,

  3. monthly transacting users,

  4. number of orders and

  5. gross order value.

The robust increase in signed up restaurants on delivery/discovery platforms (~16,000/40,000) is the most interesting update – given it comes amid negative news flow about ‘perceived’ dissatisfaction of ‘some’ restaurants with Zomato.

End March, restaurant count on delivery platform was ~5,000 more than even the pre-Covid-19 peak.

Despite office resumption to an extent in March, average order values remained stable at ~Rs 395.

Click on the attachment to read the full report:

ICICI Securities Zomato Company Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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