Zomato gets Sebi approval for Rs 7,500 crore IPO: ETNow

MUMBAI: On-line meals aggregator Zomato has acquired an approval from the Securities and Exchange Board of India (Sebi) to launch its Rs 7,500 crore preliminary public providing, enterprise information channel ETNow reported.

Earlier, The Economic Times had reported that Zomato might launch its much-awaited public providing later this month.

The IPO is without doubt one of the most-awaited one of many yr as it’s going to see the itemizing of certainly one of India’s greatest startup unicorns funded by marquee non-public fairness companies like Tiger International Administration, Constancy and publicly listed

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Information Edge, the most important shareholder in Zomato, is trying to promote a stake value Rs 700 crore by way of the general public providing, whereas Zomato will increase the rest of the sum by way of contemporary difficulty of shares.

The IPO is more likely to worth the web meals aggregator at near $9 billion. Zomato has said that its plans to make use of majority of the proceeds for natural and inorganic development, in keeping with data on the corporate’s draft prospectus.