Zomato Is Bringing An IPO Of Rs 8,250 Crore

Zomato is bringing an IPO of Rs 8,250 crore, DRHP has been filed with SEBI, know the important things related to it.

Food delivery platform Zomato is coming out with its own IPO (Zomato IPO) soon. The company has filed DRHP for this with the market regulator Sebi.

According to the DRHP filed by Zomato, the company will raise about Rs 8,250 crore through the initial share sale. The IPO will have a fresh issue of equity shares worth Rs 7,500 crore.

Also, the company’s existing investor Info Edge (India) Ltd will hold shares worth Rs 750 crore under the offer for sale.

The company said that the proceeds from this fresh issue will be used to fund organic and inorganic development works and for general corporate purposes.

Let us know that the online food delivery segment has seen significant growth in the last few years. During this time there was also competition between Jomato and Swiggy to gain more market share.

Zomato’s revenue for FY2020 doubled to $ 349 million (about Rs 2,960 crore) compared to the previous fiscal. Whereas, its EBITDA deficit was close to Rs 2,200 crore.

In February, Zomato raised $ 250 million (over Rs 1,800 crore) from Tiger Global, Kora, and others. In this process, the value of this online food delivery platform was estimated at $ 5.4 billion.

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, and Morgan Suisse Securities (India) Private Limited (Credit Suisse Securities (India) Private Limited) Coordinator and book running lead manager.

BofA Securities India Limited and Citigroup Global Markets India Private Limited have been appointed merchant bankers for this public issue. The shares of this company will be listed on both BSE and NSE exchanges.

Last year, Joomato founder and CEO Deepender Goyal told employees that the company was planning to launch an IPO within the first half of 2021.