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Zomato is eyeing a post-issue valuation of Rs 64,365 crore, on a fully diluted basis, if its shares are priced at the higher-end of its Rs 72-76 range, the food delivery company said in a press briefing on Thursday.

It added it was actively experimenting in the online grocery space, especially after its investment in Grofers, and will launch online grocery services on its app soon.

“We’re actively looking at the space, from an experimental point of view right now, and once we have conviction in the business model, we will look at it more,” the company said on the conference call.

The startup said it has Rs 15,000 crore cash in the bank.

Earlier today, the startup announced that its shares will be priced between Rs 72-76 apiece, up from the expected Rs 70-72, which will help it raise Rs 9,375 crore. The subscription will open on July 14 and close on July 16, the foodtech unicorn revealed in its red herring prospectus or RHP with the Bombay Stock Exchange.

Rs 9,000 crore of the expected raise will come from a fresh issuance, while existing shareholder Info Edge’s offer-for-sale is expected to bring in the remaining Rs 375 crore.

Info Edge, a key shareholder in the company, recently slashed the OFS in Zomato by half – from Rs 750 crore to Rs 375 crore – indicating confidence in Zomato and expectations its IPO would perform well.

Kotak Mahindra Capital, Morgan Stanley India, and Credit Suisse India are the global coordinators and book running lead managers to the issue.

Other developments at Zomato

Earlier this month, Zomato approached the Competition Commission of India (CCI) to acquire 9.3 percent stake in e-grocery startup Grofers. As per the filing, Zomato will acquire 9.3 percent stake in Grofers’ subsidiary, Hands on Trade (HoT) Pvt Ltd, along with certain rights in the collective company — Target (which includes Grofers India, HoT, and Grofers International).

In February, Zomato had raised $ 250 million (over Rs 1,800 crore) in funding from Tiger Global, Kora, and others, valuing the online food ordering platform at $ 5.4 billion.

Zomato’s FY20 revenue had jumped over two-fold to $ 394 million (around Rs 2,960 crore) from the previous fiscal, while its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) loss was around Rs 2,200 crore.