BENGALURU: Food delivery startup Zomato, backed by China s Ant Group, has filed for an initial public offering of up to Rs 8,250 crore ($1.11 billion), as consumers increasingly turn to ordering food online during the Covid-19 pandemic.
Launched in 2008, Zomato is one of India s most prominent startups. It is present in 24 countries and employs more than 5,000 people, according to its website.
In February, the company raised $250 million from five investors including hedge fund Tiger Global Management for a post-money valuation of $5.4 billion.
According to draft papers submitted to India s market regulator on Wednesday, Zomato s offering will comprise a fresh issue of shares worth up to Rs 7,500 crore. The company said it intends to use the proceeds to fund growth initiatives and general corporate purposes.
India s Zomato files for $1 11 billion IPO as food delivery surges in pandemic
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India s Zomato files for $1 11 bln IPO as food delivery surges in pandemic
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Aarti Surfactants Ltd, Barbeque-Nation Hospitality Ltd, AXISCADES Technologies Ltd and Agri-Tech (India) Ltd are among the other gainers in the BSE s B group today, 08 April 2021.
Aarti Surfactants Ltd, Barbeque-Nation Hospitality Ltd, AXISCADES Technologies Ltd and Agri-Tech (India) Ltd are among the other gainers in the BSE s B group today, 08 April 2021.
Alpa Laboratories Ltd soared 20.00% to Rs 49.5 at 11:57 IST. The stock was the biggest gainer in the BSE s B group. On the BSE, 1.14 lakh shares were traded on the counter so far as against the average daily volumes of 9428 shares in the past one month.
Aarti Surfactants Ltd spiked 20.00% to Rs 1359.7. The stock was the second biggest gainer in B group. On the BSE, 23585 shares were traded on the counter so far as against the average daily volumes of 3631 shares in the past one month.