Zomato IPO: Food supply platform Zomato on Wednesday filed its draft provide paperwork with market regulator Securities and Exchange Board of India (SEBI). The firm is trying to elevate as much as Rs 8,250 crore by its much-awaited preliminary public provide (IPO).
As per the info within the draft crimson herring prospectus (DRHP) obtainable with SEBI, Zomato’s IPO will comprise of a contemporary problem of Rs 7,500 crore value of fairness shares and a suggestion on the market (OFS) of Rs 750 crore by Info Edge (India) – which owns Naukri.com.
In an alternate submitting late Tuesday, Info Edge had knowledgeable that its Board of Directors has permitted its participation within the OFS of Zomato.
Zomato has additionally knowledgeable that it would think about a non-public placement of Rs 1,500 crore previous to submitting the Red Herring Prospectus with the RoC.
“If the Pre-IPO placement is undertaken, the minimum offer size (comprising the fresh issue so reduced by the amount raised from the pre-IPO placement, and the offer for sale) shall constitute at least 10 per cent of the post-offer paid-up equity share capital of our company,” Zomato mentioned in its DRHP.
The proceeds from the contemporary problem can be used in the direction of funding natural and inorganic development initiatives; and basic company functions.
Kotak Mahindra Capital Company, Morgan Stanley India Company and Credit Suisse Securities (India) are the worldwide coordinators and ebook working lead managers to the problem. While BofA Securities India and Citigroup Global Markets India are the ebook working lead managers to the IPO. Link Intime India is the registrar to the provide.
The shares will probably be listed on BSE and NSE.
The on-line meals supply sector has seen important development previously few years with Zomato and rival Swiggy competing to seize market share.
Last 12 months, Zomato founder and CEO Deepinder Goyal had advised staff that the corporate plans to go for an IPO within the first half of 2021.
