Info Edge India Ltd today said that its investee company Zomato has proposed an initial public offering (IPO) of fresh issue of equity shares and an offer for sale.
Info Edge will sell stake worth Rs 750 crore in the IPO of the food delivery aggregator via offer for sale, the company said in an exchange filing.
Zomato’s IPO is one of the most awaited in recent capital market history given that it will be among the first technology unicorns to be listed in India.
Info Edge holds around 19 per cent stake in Zomato after the company’s recent fundraising.
The online food delivery company earlier this year raised $250 million from Tiger Global, Kora and others. After the latest round of fundraising, the company was valued at close to $5.4 billion.
ETMarkets.com had earlier this month reported that Zomato had converted itself into a public limited company in preparation for its IPO. The food delivery app is reportedly planning to raise around $700 million to $1 billion through the IPO.
Zomato has reportedly finalised Kotak Mahindra Bank, Morgan Stanley, Citi Bank, Credit Suisse and Bank of America as lead merchant bankers for this purpose.
Source: Economic Times