The German firm initially planned to raise $1.52bn (Dhs5.6bn) by offering a 15 per cent stake in Talabat
The indicative share price of Dhs1.50 and Dhs1.60 per share implies a market valuation of around Dhs37.3bn at the top of the range
Delivery Hero is offering 3.5 billion shares in Talabat at a nominal value of Dhs0.04 apiece, representing 15 per cent of its total issued share capital
The IPO remains subject to market conditions and regulatory approval from the Securities and Commodities Authority
The project spans the GCC, Jordan and Egypt for Talabat, HungerStation and Zomato
InstaShop operates in five countries with over 1,500 vendors on its platform