Zomato files for Rs 8,250 crore IPO

Published On: Wednesday, April 28, 2021 | By: Team KnowMyStock

Food delivery aggregator and rating platform Zomato on April 28 filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 8,250 crore ($1.11 billion) through its Initial Public Offering (IPO) as consumers increasingly turn to order food online during the Covid-19 pandemic. Of this, Rs 7,500 crore will be a fresh issue, while Rs 750 crore will be an offer for sale for its existing investor Info Edge.Zomato said in the DRHP that it expects to use the funds raised through the IPO to fund its organic and inorganic growth initiatives, which include customer and user acquisition, delivery and technology infrastructure, and any new acquisitions. Kotak Mahindra Capital, Morgan Stanley India, Credit Suisse Securities India, BofA Securities India, and Citigroup Global Markets India are the lead book-running managers for Zomato's IPO.

In the run up to its IPO, Zomato has raised funding of a little over $900 million, and is expected to be valued at $6-8 billion.

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