New Delhi: On-line restaurant information and meals ordering platform Zomato plans to file an preliminary public providing (IPO) within the first half of subsequent yr.
Firm’s Chief Government Officer Deepinder Goyal in an e-mail to staff has mentioned the corporate plans to file for IPO within the first half of 2021 and can take a look at mergers and acquisitions.
Listed here are 10 developments round this
- Zomato CEO has thanked the staff for his or her onerous work and dedication including that ready just a little longer will end in considerably extra worth creation for all.
- In complete, Zomato ex-employees have bought virtually USD 30 million (round Rs 225 crore) value of shares to buyers, Goyal mentioned.
- The sale comes at a median premium of about 4 instances to what the shares had been allotted to these staff.
- Zomato’s money within the financial institution is round USD 250 million.
- Tiger International, Temasek, Baillie Gifford and Ant Monetary have already participated within the firm’s present spherical, Goyal mentioned.
- Goyal has estimated that the corporate’s present spherical will find yourself with us at USD 600 million or round Rs 4,400 crore within the financial institution very quickly.
- Zomato has raised USD 160 million from US hedge fund Tiger International Administration LLC and a unit of Singapore`s Temasek Holdings.
- Of the above quantity, Zomato has closed main fundraise of USD 100 million from Tiger International Administration, LLC.
- It has raised USD 60 million from MacRitchie Investments Pte. Ltd., an oblique wholly-owned subsidiary of Temasek Holdings.
- The transaction valued Zomato at a post-money valuation of USD 3.Three billion.
The funding comes at a time when the meals supply startup reinvents elements of its enterprise because it grapples with the financial fallout from the COVID-19 pandemic.