New Delhi: Ant Group-backed on-line meals ordering platform Zomato has filed preliminary papers with capital market regulator Sebi to lift Rs 8,250 crore via an preliminary share-sale at a time when the demand for its providers is rising on account of COVID-19 pandemic-related restrictions.
The firm’s income in FY20 jumped over two-fold to round Rs 2,960 crore as in comparison with 2018-19 fiscal.
The on-line meals supply section has seen vital development in the previous couple of years with Zomato and Swiggy competing head-on to seize market share.
The preliminary public supply (IPO) includes recent challenge of fairness shares price Rs 7,500 crore and supply for sale to the tune of Rs 750 crore by Info Edge (India) Ltd, draft purple herring prospectus (DRHP) filed with Securities and Exchange Board of India (Sebi) confirmed on Wednesday.
Proceeds from the recent challenge could be used in the direction of funding natural and inorganic development initiatives; and common company functions.
“Except for Info Edge, which holds 18.55 per cent of the equity share capital of our company as on the date of this DRHP on a fully diluted basis, and Alipay and Antfin, which together hold 16.53 per cent of the equity share capital of our company as on the date of this DRHP on a fully diluted basis no shareholder controls 15 percent or more of the voting rights in our company”, the preliminary papers mentioned.
Info Edge on Tuesday mentioned it’ll promote stake price Rs 750 crore within the IPO of its investee firm Zomato.
In a regulatory submitting, Info Edge mentioned Zomato is proposing an IPO of its fairness shares, comprising a recent challenge of fairness shares by Zomato Ltd and a suggestion for sale by Info Edge (India) Ltd.
“The board of directors of the company considered and have given their approval to the company to participate in the said offer for sale of up to such number of shares of Zomato Ltd as would aggregate upto Rs 7,500 million…,” it added.
In February, Zomato had raised USD 250 million (over Rs 1,800 crore) in funding from Tiger Global, Kora and others, valuing the web meals ordering platform at USD 5.4 billion.
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and Credit Suisse Securities (India) Private Limited are the worldwide coordinator and e-book working lead supervisor to the difficulty.
BofA Securities India Limited and Citigroup Global Markets India Private Limited have been appointed as service provider bankers to the general public challenge.
The fairness shares of the corporate can be listed on BSE and NSE.
Last yr, Zomato founder and CEO Deepinder Goyal had instructed staff that the corporate plans to go for an IPO within the first half of 2021.Â
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