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Zomato IPO aims to raise Rs 8,250 cr

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Food delivery platform Zomato filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) on April 28.

According to the DRHP filed by Zomato, the company will offer equity shares aggregating up to Rs 8,250 crore (nearly $1.1 Billion). Of this, Rs 7,500 crore will be fresh issue, while Rs 750 crore will be an offer for sale for its existing investor Info Edge.

The move comes a few weeks after Zomato converted itself from a private company to a public limited company by amending its Memorandum of Association and renaming itself Zomato Limited. It said the move to become a public limited company was required as it plans to consider filing the DRHP with Sebi and relevant stock exchanges to list its equity shares on one or more of the stock exchanges. It was originally incorporated as a private limited company on January 19th, 2010.

The food delivery major reported a revenue of Rs 2,486 crore for FY20, while its losses rose to Rs 2,451 crore during this fiscal.