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Zomato may file for IPO in April

Zomato not too long ago raised $250 million from buyers together with Kora Administration and Constancy Administration & Analysis Co., valuing the startup at $5.four billion.

Bloomberg

PUBLISHED ON MAR 20, 2021 04:39 AM IST

Zomato Pvt, an Indian meals supply startup backed by Jack Ma’s Ant Group, is planning to file the draft prospectus by April for its preliminary public providing that would increase about $650 million, based on individuals conversant in the matter.

The corporate may full the itemizing in Mumbai earlier than the top of September, the individuals stated, asking to not be recognized as the data is personal.

Deliberations are ongoing and particulars of the providing equivalent to dimension and timeline may change, the individuals stated. A consultant for Zomato didn’t instantly reply to requests for remark.

Based in 2008 in Delhi, the corporate employs greater than 5,000 individuals, based on its web site. Zomato not too long ago raised $250 million from buyers together with Kora Administration and Constancy Administration & Analysis Co., valuing the startup at $5.four billion, based on an alternate submitting in February by Information Edge India Ltd., an present backer.

The pandemic has pushed many Indian customers to shift their spending on-line, bolstering the fortunes of e-commerce companies like Zomato as they intention to go public. Nykaa E-Retail Pvt, backed by TPG Capital, is planning to listing the corporate within the native market and to hunt a valuation of at the very least $three billion, Bloomberg Information has reported.

World IPO volumes are heading for the most effective quarter since at the very least 2009 with greater than $188 billion raised to this point this yr, knowledge compiled by Bloomberg present.

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