New Delhi: Ant Group-backed online food ordering platform Zomato has filed preliminary papers with capital market regulator Sebi to raise Rs 8,250 crore through an initial share-sale at a time when the demand for its services is growing due to COVID-19 pandemic-related restrictions.
The company's revenue in FY20 jumped over two-fold to around Rs 2,960 crore as compared to 2018-19 fiscal.
The online food delivery segment has seen significant growth in the last few years with Zomato and Swiggy competing head-on to grab market share.
The initial public offer (IPO) comprises fresh issue of equity shares worth Rs 7,500 crore and offer for sale to the tune of Rs 750 crore by Info Edge (India) Ltd, draft red herring prospectus (DRHP) filed with Securities and Exchange Board of India (Sebi) showed on Wednesday.
Proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives; and general corporate purposes.