Zomato Files for $1.1 Billion IPO, Info Edge will gain $100 million
Bengaluru, 04/28/2021: India-based food delivery company Zomato files for a $1.1 billion IPO, and through this IPO its initial investor Info Edge will earn $100 million (Rs 750 crore) in the initial public offering.
In a regulatory filing, Zomato is proposing IPO of its equity shares, comprising a fresh issue of equity shares by Zomato Ltd and an offer for sale by Info Edge (India) Ltd.
On a fully converted and diluted basis, Info Edge's effective stake in Zomato stands at 18.4 per cent.
"The Board of Directors of the Company today considered and have given their approval to the company to participate in the said Offer for Sale of up to a such number of shares of Zomato Ltd as would aggregate up to $1.1 billion (around 7500 crores)," it added.
The terms and conditions of these ...