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
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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.
Updated Apr 07, 2021 | 17:20 IST
The casual dining chain listed a marginal discount on the exchanges and after some hesitation investors seemed to have shown some faith in the long-term prospect of the company. Representational Image | Photo Credit: BCCL
Key Highlights
Take-away/Deliveries business contributes around 20% to its revenues.
Stock sprung up a surprise & jumped 20%, after debuting at a discount
Mumbai: The euphoria around new listings seemed to have faded amid a spike in volatility in the secondary market. Looking at the last few listing whether it was Kalyan Jewellers, Anupam Rasayan or Easy Trip Planners disappointed in their debut on the exchanges. The sentiment in the IPO market had turned weak, mainly due to the second wave of coronavirus infections, especially in the key state of Maharashtra.