Tuesday, May 4, 2021

Zomato IPO: Info edge is planning to sell shares worth Rs 750 crore

Zomato IPO: Info Edge to sell shares worth Rs 750 crore

BENGALURU: Info Edge, an early financial backer in Zomato, said it will sell shares worth Rs 750 crore in the impending first sale of stock (IPO) of the online food requesting stage. 

In a stock trade documenting on Tuesday night, it said the deal would be through a mix of new issue of value shares by Zomato Limited and a proposal available to be purchased (OFS) by Info Edge. 

Zomato is relied upon to document the Draft Red Herring Prospectus (DRHP) for its IPO this week. Information Edge said the terms and states of this deal will be determined in the DRHP. 

Zomato's IPO would check what might be one of the primary Indian unicorns (new companies esteemed at $1 at least billion) to go for an IPO at a time other local new businesses are additionally planning to dispatch IPOs this year. As indicated by reports, it is meaning to raise $750 million to $1 billion. 

This comes when US-based new businesses like DoorDash have effectively dispatched their IPOs on the lookout and the area is seeing expanded activity in India as well. 

Recently, TOI revealed saying SoftBank was in cutting edge phases of converses with put $400-500 million in Swiggy, at last taking a bet on one of the prevailing players. 

Information Edge,the parent of Naukri.com, holds just shy of 20% stake in the Gurgaon-based food conveyance firm.

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