Zomato has submitted papers with the market regulator SEBI for an initial public offering (IPO) of Rs 8,250 crore.
Food delivery startup Zomato, backed by Chinese company Ant Group, has submitted papers with market regulator SEBI for an initial public offering (IPO) of Rs 8,250 crore. Fresh equity shares worth Rs 7,500 crore will be floated in this IPO. At the same time, Info Edge will sell its stake of Rs 750 crore through Offer for Sale.
In the online food delivery segment, the competition of Jomato and Swiggy has been increasing in the last few years. Zomato’s revenue in FY20 increased two-fold to nearly Rs 2,960 crore in the last financial year.
Info Edge will sell stake for 750 crores
Info Edge said that it will sell its stake of Rs 750 crore under the IPO of Jomato, an online food ordering platform.
In the information given to the stock market, Info Edge said that Jomato is proposing to launch an IPO. In it, Zomato Ltd. The sale will include Info Edge’s offering with fresh equity shares of Rs.
He said, the board of directors of the company considered it and approved its inclusion in the sales offering. .This will be up to 750 crores rupees.
Raised Rs 1800 crore in February
In February, Zomato raised $ 250 million (more than Rs 1,800 crore) in funding from Tiger Global, Cora and others, an online food ordering platform worth $ 5.4 billion.
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and Credit Suisse Securities (India) Private Limited are the global coordinators and book running lead managers of the issue.
BofA Securities India Limited and Citigroup Global Markets India Private Limited have been appointed as merchant bankers on the public issue.
The equity shares of the company will be listed on BSE and NSE. Last year, Deepinder Goyal, founder and CEO of Zomato, told employees that the company plans to go for an IPO in 2021 first.
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