Zomato is predicted to file the Draft Red Herring Prospectus (DRHP) for its IPO this week. (Representative picture)
BENGALURU: Info Edge, an early investor in Zomato, mentioned it would sell shares worth Rs 750 crore within the upcoming preliminary public providing (IPO) of the net meals ordering platform.
In a inventory alternate submitting on Tuesday evening, it mentioned the sale could be by a mix of contemporary situation of fairness shares by Zomato Limited and a proposal on the market (OFS) by Info Edge.
Zomato is predicted to file the Draft Red Herring Prospectus (DRHP) for its IPO this week. Info Edge mentioned the phrases and circumstances of this sale shall be specified within the DRHP.
Zomato’s IPO would mark what could be one of the primary Indian unicorns (startups valued at $1 billion or extra) to go for an IPO at a time different native startups are additionally aiming to launch IPOs this 12 months. According to studies, it’s aiming to increase $750 million to $1 billion.
This comes at a time when US-based mostly startups like DoorDash have efficiently launched their IPOs available in the market and the sector is seeing elevated motion in India too.
Earlier this month, TOI reported saying SoftBank was in superior phases of talks to make investments $400-500 million in Swiggy, lastly taking a guess on one of the dominant gamers.
Info Edge,the father or mother of Naukri.com, holds just below 20% stake within the Gurgaon-based meals supply agency.
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