New Delhi: The Zomato Food Delivery Platform has received a Sebi market regulator to increase Rs 8,250 Crore through initial sales.
Initial Public Offering (IPO) consists of a fresh edition of equity shares worth Rs 7,500 crores and offers – for sale to RS 750 Crore songs by Info Edge (India) Ltd, according to the draft Red Herring Prospectus.
Zomato, which submitted initial IPO letters with SBI in April, received his observations on July 2, updates with the regulator showed on Monday.
Sebi observations are needed for any company to launch public problems such as IPOs, follow the public offering (FPO) and rights issue.
Going with a draft paper, the results of fresh problems will be used to fund organic and inorganic growth initiatives; and company general needs.
Online food delivery segments have seen significant growth in recent years with Zomato and Swiggy compete to take market share.
Zomato 2019-20 income has surged more than doubled to $ 394 million (around Rs 2,960 Crore) from the previous fiscal year, while its income before interest, tax, depreciation, and loss of amortization (EBITDA) is around RS 2,200 Crore.
In February, Zomato has collected USD 250 million (more than 1,800 crore Rs) in funding from Global Tiger, Kora and others, assessing the online food order platform for $ 5.4 billion.
Mahindra Capital Company Box, Morgan Stanley India Company Pvt Ltd and Credit Suisse Securities (India) Pvt Ltd is a global coordinator and book running the main manager for this problem.
Bofa Securities India Ltd.
and Citigroup Global Markets India Pvt Ltd has been appointed as trader bankers with public problems.
The company’s shares will be registered with BSE and NSE.
Last year, the founder of Zomato and CEO Deard Goyal told employees that the company planned to go for the IPO in the first half of 2021.