Does Zomato File For $1.1 Billion IPO?

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Ella Jones, Deputy Editor In Chief

Date: 12.05.2021

Indian food delivery group Zomato has filed for an initial public offering that aims to raise up to 82.5 billion rupees ($1.1 billion).

The Gurgaon-based company plans to list on the Indian stock exchanges NSE and BSE. Although the prospectus did not disclose the price of the shares, the $1.1 billion fundraising target would make Zomato’s IPO the biggest in India so far this year, according to a Bloomberg report.

The startup was valued at $5.4 billion after a $250 million funding round led by Tiger Global, Kora and others in February 2021. Zomato attained it unicorn status back in 2015.

Zomato reported that its business bounced back in August. The company said the number of restaurants doing food delivery had reached 70% of pre-pandemic levels.

Zomato counts Ant Group, Uber, Temasek, YV Capital and Sequoia Capital, among its investors.

by Ella Jones | Linkedin

#News #IPO #ICO #Zomato #Wcryptn.com

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