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NEW DELHI: Info Edge, one of the key shareholders of Zomato, has slashed the offer for sale in the latter’s IPO by half, which would eventually reduce the total size of the IPO. The Sanjeev Bikhchandani-owned company on Sunday said its board has revised the offer for sale by the company to Rs 375 crore worth of Zomato shares. Earlier the plan was to sell shares worth Rs 750 crore . The reduction in size means Info Edge is confident of the company’s future and wants to hold more of the company that it had acquired cheaply. Many analysts and foreign investors are also sounding gung-ho over the issue. The much anticipated IPO of Zomato is expected to hit the market later in July. However, there is no clarity on date. The total issue size is likely be around Rs 8,000 crore, excluding pre-IPO allotment. ....
Info Edge will now only sell shares worth ₹375 crore in Zomato IPO businessinsider.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.in Daily Mail and Mail on Sunday newspapers.