Page 4 - மஹிந்திரா மூலதனம் நிறுவனம் லிமிடெட் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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.

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