Online food ordering platform Zomato has filed draft papers with the Securities and Exchange Board of India (Sebi) for a Rs 8,250-crore initial public offering (IPO).
The share float comprises fresh issue of equity shares worth Rs 7,500 crore and offer for sale worth Rs 750 crore by Info Edge (India) Ltd. At present, Info Edge holds 18.55 per cent in Zomato, while the Alibaba group owns 16.53 per cent of the restaurant aggregator via Alipay and Antfin. On Tuesday, Info Edge had said that it will sell stake worth Rs 750 crore in the Zomato IPO.
Zomato’s much awaited IPO comes at a time the country is passing through a second wave of the Covid pandemic. This has led to a rise in demand for its services. In a note earlier this year, analysts at Bernstein had said that India’s food services market is large and expected to reach $74 billion by 2023-24.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Global Online Food Delivery Services Market Report 2021: COVID-19 Growth, Impacts and Change to 2030 - ResearchAndMarkets.com
April 29, 2021 GMT
DUBLIN (BUSINESS WIRE) Apr 29, 2021
This report focuses on the online food delivery services market which is experiencing strong growth. The report gives a guide to the online food delivery services market which will be shaping and changing our lives over the next ten years and beyond, including the market’s response to the challenge of the global pandemic.
Major players in the online food delivery services market are takeaway.com, Doordash, Deliveroo, Uber eats, Zomato, Swiggy, Domino’s pizza, Grubhub, foodpanda, and Just eat.
SoftBank Vision Fund 2 is expected to invest $450 million in Swiggy in a deal that will mark the Masayoshi Son-led SoftBank Group Corp.’s first direct bet in the foodtech sector in India.
EdTech platform Kyt raises $5 million in Series A funding round
Kyt also plans to use the funds raised for deeper investment in technology and product to enhance the overall experience of studentsPremium
2 min read
Kyt is the first Indian company to receive investment from Singapore-based January Capital
Share Via
Read Full Story
Educational technology platform Kyt on Wednesday raised $5 million in a Series A funding round. The investment is led by Alpha Wave Incubation (AWI), a venture fund managed by Falcon Edge Capital. Sequoia Capital India’s Surge, January Capital, Titan Capital and other angel investors also participated in the round. Kyt is the first Indian company to receive investment from Singapore-based January Capital, the company said in a statement.
Indian edtech firms go beyond school courses, test prep to tap kids
Photographer: Xaume Olleros/Bloomberg Premium
With most schools still shut and learning largely online, a bunch of edtech startups are offering extra-curricular courses to engage children and make them future-ready. Going beyond the traditional test preparation and online tutoring programmes, these courses offer dance and music, chess, yoga, quizzing and make-up courses, and even provide opportunit to learn from celebrities in respective fields.
Continue reading this story with a subscription to DealStreetAsia.
Contact us for corporate subscriptions at subs@dealstreetasia.com.
Sign up for our newsletter - The Daily Brief