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Updated Feb 11, 2021 | 08:43 IST
Zomato is actively pursuing the idea of selling shares to raise capital as fundraising ability of the startup has been constrained due to the restrictions imposed by the government on investments from China. Market estimates suggest Zomato could be valued at $6-7 billion.
New Delhi: Restaurant aggregator Zomato has increased its paid-up capital by three times from Rs 535 crore to Rs 1,448 crore ahead of its proposed initial public offering to create 8.8 billion new shares, the
Economic Times mentioned in a report citing its latest regulatory filing.
People with direct knowledge of the matter said this was a pre-IPO exercise and that the company is actively pursuing the idea of selling shares to raise capital. Market estimates suggest the company could be valued at $6-7 billion. The development comes at a time when the fundraising ability of the startup has been constrained due to the restrictions imposed by the gove
A Made in India contender for WhatsApp
On January 10, Zoho Founder Sridhar Vembu had tweeted that his team is working on a Made in India instant messaging app - Arattai.
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Ever since Facebook-owned WhatsApp released a privacy update to its users a month ago, the move has drawn the ire of many users across the world, including India.
Closer home, India’s very own Made in India instant messaging app a new B2C app by Zoho called Arratai, meaning chit-chat in Tamil has picked up significant buzz, crossing 50,000 downloads on Google Play Store even before its formal launch.
Beyond the noise: What Indian entrepreneurs need from Budget?
In two days, FM Nirmala Sitharaman will announce what will be India’s first post-COVID-19 Budget. This is on the back of a very difficult year for companies across sectors, and a lot is riding on this year’s Budget.
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In two days, Finance Minister Nirmala Sitharaman will announce what will be India’s first post-COVID-19 Budget. This is on the back of a very difficult year for companies across sectors, and a lot is riding on this year’s Budget.
YourStory spoke to key stakeholders from the startup ecosystem to understand their asks and needs to enable entrepreneurs to continue innovating in critical areas and realise Prime Minister Narendra Modi’s vision of an Aatmanirbhar Bharat.
Budget 2021: Startup investors focus on exit routes, want clarity on China FDI ban
The government’s curbs on capital flows from China has impacted many startups’ ability to raise funds and offer an exit route to investors. Onerous rules for stock-market listing make matters worse. Budget 2021 should ease these challenges, say experts
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Finance Minister Nirmala Sitharaman gets ready to deliver her annual budget speech, the startup community wants the government to make its position clear on fledgling companies raising capital from China and Hong Kong.
India had curbed the inflow of funds from neighbouring countries and banned dozens of Chinese apps, including TikTok, after a border clash in June last year left at least 20 Indian soldiers dead. Although New Delhi didn’t specifically name Beijing, the restrictions were clearly directed at China since no other neighbour accounts for any significant foreign fund inflows into India.