Zomato Starts Priority Delivery Service for Covid Emergency Cases
TheNFAPost Podcast

Food delivery platform Zomato has filed its Draft Red Herring Prospectus (DRHP) with the market regulator on Wednesday, kicking off one of India’s most anticipated internet initial public offerings (IPOs) in a tumultuous year.

NFAPost had reported prospective listing of leading digital startups in the country to raise funds.  According to the DRHP filed by Zomato, the company will offer equity shares aggregating up to Rs 8,250 crore (nearly $1.1 Billion). Of this, Rs 7,500 crore will be fresh issue, while Rs 750 crore will be an offer for sale for its existing investor Info Edge.

Info Edge on April 27th said said it will sell shares worth Rs 750 crore in the upcoming initial public offering.

​The company’s internal review of the IPO and other processes was completed on April 22, 2021. Sebi is likely to take about two weeks to review the DRHP and the final launch will depend on the market conditions, a source familiar with the development said.

Private company

The food delivery platform and restaurant aggregator platform was founded by Deepinder Goyal and Pankaj Chaddah as Foodiebay in 2008 and was renamed Zomato on 18th January 2010.

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