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Online Food Delivery Platform Zomato Files For Rs 8,250 Crore IPO With SEBI
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Online food delivery platform Zomato limited has filed for an initial public offering (IPO) of Rs 8,250 crore with the Securities and Exchange Board of India (SEBI), on Wednesday (28 April).
The Draft Red Herring Prospectus (DRHP) filed states that the IPO will be a combination of fresh issue of equity shares worth Rs 7,500 crore and an Offer For Sale (OFS) by existing shareholder Info Edge Ltd worth Rs 750 crore — the parent firm of Naukri.com.
Zomato Limited has Ant Financials, Info Edge, Sequoia, and Uber as some of its investors. The company held the latest round of funding in February this year, receiving $250 million. The company has a valuation of $5.4 billion, Info Edge had said in an exchange filing. In the latest rounds of fundraising, Tiger Global, Fidelity, and Kora Management were among the investors as per a report in Financial Express.
Zomato's Financial Year 2020 revenue had jumped over two-fold to around Rs 2,960 crore from the previous fiscal.
Info Edge, which holds more than an 18 per cent stake in Zomato, informed the exchanges that its Board of Directors had approved to participate in the OFS of Zomato on Tuesday (27 April).
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