Industry

Zomato files papers for ₹8,250 crore IPO

Zomato's FY20 revenue had jumped over two-fold to $ 394 million (around ₹ 2,960 crore) from the previous fiscal.   | Photo Credit: Sushil Kumar Verma

Food delivery app Zomato Ltd., backed by China’s Ant Group, on Wednesday filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) to raise ₹8,250 crore.

The IPO would comprise fresh issue of ₹7,500 crore and OFS (offer for sale) of ₹750 crore by Info Edge, an investo. Zomato said it would utilise the proceeds of the fresh issue to fund growth initiatives and for general corporate purposes.

Zomato said revenue from operations rose from ₹466 crore in FY18 to ₹2,604 crore in FY20. For the nine months ended December 31, 2020, it reported a revenue of ₹1,301 crore.

For the nine months of the previous year it reported net loss of Rs 682 crore, it said.


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Printable version | Dec 3, 2021 1:39:17 AM | https://www.thehindu.com/business/Industry/zomato-files-papers-for-8250-crore-ipo/article34428629.ece

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