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Zomato files DHRP with SEBI for its much-awaited IPO; aims to raise up to Rs 8,250 crore

Zomato IPO: As per the data in the draft red herring prospectus (DRHP) available with SEBI, Zomato's IPO will comprise of a fresh issue of Rs 7,500 crore worth of equity shares and an offer for sale (OFS) of Rs 750 crore by Info Edge (India) - which owns Naukri.com.

By: Express Web Desk | New Delhi |
Updated: April 28, 2021 1:01:16 pm
zomato, zomato ipo, zomato ipo date, zomato ipo news, zomato ipo priceZomato Delivery boy. (Express Photo by Amit Chakravarty)

Zomato IPO: Food delivery platform Zomato on Wednesday filed its draft offer documents with market regulator Securities and Exchange Board of India (SEBI). The company is looking to raise up to Rs 8,250 crore through its much-awaited initial public offer (IPO).

As per the data in the draft red herring prospectus (DRHP) available with SEBI, Zomato’s IPO will comprise of a fresh issue of Rs 7,500 crore worth of equity shares and an offer for sale (OFS) of Rs 750 crore by Info Edge (India) – which owns Naukri.com.

In an exchange filing late Tuesday, Info Edge had informed that its Board of Directors has approved its participation in the OFS of Zomato.

Zomato has also informed that it might consider a private placement of Rs 1,500 crore prior to filing 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 said in its DRHP.

The proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives; and general corporate purposes.

Kotak Mahindra Capital Company, Morgan Stanley India Company and Credit Suisse Securities (India) are the global coordinators and book running lead managers to the issue. While BofA Securities India and Citigroup Global Markets India are the book running lead managers to the IPO. Link Intime India is the registrar to the offer.

The shares will be listed on BSE and NSE.

The online food delivery sector has seen significant growth in the past few years with Zomato and rival Swiggy competing to grab market share.

 

Last year, Zomato founder and CEO Deepinder Goyal had told employees that the company plans to go for an IPO in the first half of 2021.

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