Temasek’s stake in Zomato will add upto 2.73% after this financial round. While the share price has been discounted by 7%, its valuation more or less remains unchanged. The company has been valued at $3.18 billion, post-money. Zomato was valued at $3.25 billion when it raised $5 million from Scotland-based Pacific Horizon Investment Trust in April earlier this year.
Temasek has picked up preference capital worth nearly $61 million through MacRitchie Investments, as was reported last week. According to regulatory filings, the Gurugram-based company has allotted 15,188 preference shares at an issue price of Rs 300,235 per share to the Singapore government-owned investment firm.
The fresh capital would give a much-needed runway to the foodtech major as it was unable to receive the $100 million announced funding from Ant Financials due to a ban on foreign direct investment under the automatic route from countries that share a border with India.
After the complete allotment of the ongoing Series J round, the complete shareholding pattern will be out. The top individual stakeholders and their worth however, is already decided. Zomato’s co-founder and chief executive officer is the biggest individual stakeholder in the company, controlling a 7.7% stake worth nearly $245.2 million.
The other co-founder Pankaj Chaddah had moved on from Zomato in 2018 to launch MindHouse, still commands a 1.75% stake in Zomato. At present, his ownership is pegged at around $55.7 million. The company’s chief technology officer Gunjan Patidar controls 0.54% stake and his holding has been estimated to be north of $17.25 million. Patidar has been with Zomato’s leadership team since its inception, however, he is not in the company’s co-founding team.
Infact, as recently as last week, Zomato allotted ESOPs worth nearly $52 million. The ESOP subscription scheme is set to bring in $25 million for Zomato while creating wealth for its employees. At present, the ESOP trust controls a 6.77% stake in the food tech company on a fully diluted basis, worth nearly $217 million.