Riding on surge in food deliveries, Zomato files for ₹8,250 crore IPO – News 24-7 Live News 24-7 Live
Riding on surge in food deliveries, Zomato files for ₹8,250 crore IPO

Riding on surge in food deliveries, Zomato files for ₹8,250 crore IPO

Food delivery platform Zomato has filed preliminary papers with capital market regulator Securities and Exchange Board of India (Sebi) to raise ₹8,250 crore through an initial share-sale.The initial public offer (IPO) comprises fresh issue of equity shares worth ₹7,500 crore and offer for sale to the tune of ₹750 crore by Info Edge (India) Ltd, draft red herring prospectus filed with Sebi showed on Wednesday.

Proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives; and general corporate purposes.The online food delivery segment has seen significant growth in the last few years with Zomato and Swiggy competing head-on to grab market share.

News Source: Hindustan times

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