MUMBAI:
nowadays said that its investee firm Zomato has proposed an preliminary public offering (IPO) of new topic of equity shares and an provide for sale.
Information Edge will promote stake price Rs 750 crore within the IPO of the food shipping aggregator by process of provide for sale, the firm said in an change filing.
Zomato’s IPO is one of essentially the most awaited in original capital market history provided that it could in all probability well be among the first technology unicorns to be listed in India.
Information Edge holds spherical 19 per cent stake in Zomato after the firm's original fund elevating.
The online food shipping firm earlier this year raised $250 million from Tiger World, Kora and others. After the latest spherical of fund elevating, the firm turn into valued at end to $5.4 billion.
ETMarkets.com had earlier this month reported that Zomato had transformed itself into a public restricted firm in preparation for its IPO. The food shipping app is reportedly planning to enhance spherical $700 million to $1 billion throughout the IPO.
Zomato has reportedly finalised Kotak Mahindra Financial institution, Morgan Stanley, Citi Financial institution, Credit Suisse and Financial institution of The usa as lead merchant bankers for this cause.
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