According to a Bloomberg report, the company may submit a draft red herring prospectus in April 2021 to market regulator SEBI for this IPO.
New Delhi. Food delivery company Zomato is planning to fill its bag with an initial public offering. Through the IPO, the company is also going to give investors a chance to earn big bucks. The company is planning to raise more than $ 650 million i.e. Rs 4700 crore from the market. For this, the company will launch its IPO before September 2021.
Preparations to complete the filing process by April
According to a Bloomberg report, the company may submit a draft red herring prospectus in April 2021 to market regulator SEBI for this IPO. Sources associated with the matter said that the company plans to be listed in the stock markets by the end of September 2021. The company is negotiating in this regard. What will be the size of the IPO – it will be more than Rs 4700 crore or less, it is not yet final. However, the company has not officially said anything about the IPO.
Cyril Amarchand Mangaldas and Indus Law became legal advisors
Earlier in January 2021, company sources told Moneycontrol that Zomato had appointed Goldman Sachs, Morgan Stanley and Credit Suisse along with Kotak Mahindra Capital as lead investment bankers. Apart from this, the company has appointed law firm Cyril Amarchand Mangaldas and Indus Law as legal advisors for legal advice.
Raised fresh funding of 1800 crore rupees
Prior to the IPO last month, Zomato raised $ 250 million or Rs 1,800 crore of fresh funds from its existing investors. It is being seen as the company’s pre-IPO funding. With this, the valuation of the company has now gone up to $ 5.4 billion, or about Rs 40,000 crore, while in December 2020, the valuation of the company was only Rs 28,000 crore.
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