Zomato filed papers for an IPO of Rs 8,250 crore. The company said the funds from the sale of fresh shares would be used for expansion plans, including acquisitions.
New Delhi. Online Food Order Company Jomato Has filed papers with capital market regulator Sebi to raise Rs 8,250 crore through an initial public offering (IPO). According to the red herring prospectus filed by Zomato, it will offer fresh equity shares worth Rs 7,500 crore, while a Rs 750 crore sale offer by Info Edge (India) Limited. The company said the funds from the sale of fresh shares would be used for expansion plans, including acquisitions.
The company’s revenue doubled to around Rs 2,960 crore in FY 2020 as compared to FY 2018-19. Competition in Jomato and Swiggy has been increasing for the past few years in the online order-taking segment. Earlier in February, Jomato raised USD 250 million (over Rs 1,800 crore) from Tiger Global, Cora and other investors, and Jomato was valued at USD 5.4 billion in the deal. 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 IPO. The equity shares of the company will be listed on BSE and NSE.
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