Zomato’s Rs 8,250-cr IPO set to hit D-street; Naukri.com parent to sell Rs 750-cr shares via OFS – News 24-7 Live News 24-7 Live

Zomato’s Rs 8,250-cr IPO set to hit D-street; Naukri.com parent to sell Rs 750-cr shares via OFS

Online food delivery platform Zomato is looking to raise a massive Rs 8,250 crore through its much-awaited initial public offering (IPO). In its DRHP, filed with the capital markets regulator Securities and Exchange Board of India (SEBI) today, Zomato said its IPO will be an amalgamation of fresh issue of equity shares and an Offer For Sale (OFS) by existing shareholder Info Edge Ltd — the parent firm of Naukri.com. With this, Zomato has begun the proceedings of one of the most awaited public issues on Dalal Street in recent years. Zomato’s IPO could be the largest to hit Dalal Street since SBI Cards and Payment Services in March 2020.

Zomato will raise Rs 8,250 crore, of which Rs 7,500 crore will be a fresh issue, while another Rs 750 crore will be an OFS by Info Edge. On Tuesday evening, Info Edge, which holds over 18% stake in Zomato informed the bourses that its Board of Directors has given approval to participate in the OFS of Zomato. Zomato has also said that it might consider a private placement of Rs 1,500 crore ahead of the IPO. Such a move is likely to trim the size of the fresh issue that the company has so far proposed.

The start-up’s average order value for food delivery increased to Rs 407.8 in Q3FY21 from Rs 264.6 from Q1FY20.

News Source: financialexpress

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