Zomato to file for IPO in April
Zomato IPO: Restaurant aggregator and food delivery start-up Zomato is planning to file the draft prospectus for its initial public offering next month. According to reports, Zomato is planning to raise about USD 650 million from the issue.
The food delivery company is likely to complete the listing before the end of September, media reports said, adding that intense deliberations are underway ti finalise the details of the IPO.
Founded in 2008 in Delhi, Zomato is led by Deepinder Goyal. The company employs more than 5,000 people, according to its website.
Zomato recently has raised USD 250 million (over Rs 1,800 crore) in funding from Tiger Global, Kora and others, valuing the online food ordering platform at USD 5.4 billion. According to a regulatory filing by Info Edge, on a fully converted and diluted basis, Info edge's effective stake in Zomato stands at 18.4 per cent.
As per the latest filing by Info Edge, USD 115 million has been invested by Kora Management LP, USD 55 million from funds associated with Fidelity, USD 50 million from Tiger Global Management, LLC, USD 20 million from Bow Wave Capital Management, LP and USD 10 million from Dragoneer Investment Group, LLC.
In September last year, Info Edge had said Zomato had raised USD 160 million (about Rs 1,173 crore) in funding from Tiger Global and Temasek Holdings subsidiary MacRitchie Investments that valued the online food ordering platform at USD 3.3 billion. In January 2020, Zomato had raised USD 150 million (over Rs 1,065 crore) at a pre-money valuation of USD 3 billion.
The online food delivery segment has seen significant growth in the last few years with Zomato and Swiggy competing head-on to grab market share. Zomato's FY20 revenue had jumped over two-folds to USD 394 million (around Rs 2,960 crore) from the previous fiscal, while its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) loss was at around Rs 2,200 crore in FY2019-20.
READ MORE: Zomato to go public in 2021, raises $160 mn in funding from Tiger Global, MacRitchie investments
