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While the market driven by short-term sentiment influenced by the accommodative interest rate environment in the US, virus news and stimulus spending, many smart money investors are starting to get cautious...
A much-talked-about IPO by an Indian tech unicorn is finally all set to arrive. Restaurant discovery and food delivery firm Zomato today (July 8) said it will launch its initial public offering (IPO) on July 14. The Gurugram-based company is looking to raise Rs9,375 crore through the IPO, where it will offer shares at a price between Rs72 and Rs76 apiece, it said in its press conference. Zomato’s IPO plan was approved by the Securities and Exchange Board of India on July 5. “We will utilise the IPO proceedings for funding organic and inorganic growth initiatives, and for general corporate...
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 c...
{{following ? "Following" : "Follow"}} Share: Jack Ma’s Ant Group and Uber Technologies Inc (NYSE: UBER)-backed Indian food delivery start-up, Zomato, has proposed to raise $1.1 billion (INR82.5 billion) from an initial public offering (IPO), Nikkei Asia reports. What Happened: The IPO coincides with India’s brutal second wave of the pandemic. Zomato plans to sell shares worth INR75 billion in the primary market. The largest shareholder, Info Edge, is set to offer INR7.5 billion shares. Zomato may also offer a pre-IPO placement for up to INR15 billion. Zomato will invest INR56...
Info Edge, which has been an early backer of the foodtech platform, owned almost 18.4% stake in the company.