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Zomato IPO delivered record fees for bankers

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Investment bankers handling Zomato Ltd’s 9,375 crore initial public offering (IPO) earned 229 crore in fees, the food delivery unicorn’s final offer documents showed, making it one of the biggest payouts for any Indian IPO.

Zomato was advised by Kotak Mahindra Capital, Morgan Stanley, Credit Suisse, Bank of America and Citi. According to data from primary market tracker Prime Database, the fees paid by Zomato to the five bankers far exceeded every other 5,000-crore-plus IPO.

In comparison, investment banks earned 97.34 crore from Gland Pharma’s 6,479.5 crore IPO in November, 90.85 crore from ICICI Prudential Life Insurance’s 6,056.79 crore IPO in 2016, and 85.25 crore from Blackstone-backed Sona BLW Precision Forging Ltd’s 5,550 crore IPO in June.

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Big bucks

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