Zomato may file DRHP next month for its IPO

Zomato IPO

Zomato shows up totally set to petition for an Initial Public Offering or IPO, looking at a listing in at least one perceived stock exchanges in India, an email sent by the organization to its financial backers said. 

"We at present propose to record our DRHP in April 2021 and henceforth accept that you (financial backers) are not qualified to sell your equity shares in the IPO, nonetheless, you are encouraged to decide your qualification in this regard all alone," the email sent by the organization's Chief Financial Officer said

Dailymint  has seen the email. Zomato didn't promptly react to a solicitation for input. 

While the organization had before said that financial backers wouldn't sell their stake, the email likewise says that intrigued partners can weaken their holding subsequent to consenting to the Security and Exchange Board of India or SEBI standards. 

The timetable for documenting the DRHP has come a month after the online foodtech major raised $250 million drove by Kora Management at a valuation of $5.4 billion. Since December, the organization has wiped up $850 million across two tranches. 

Zomato is apparently looking at to raise $750 million to $1 billion at a valuation of $6-8 billion through the public listing

Zomato is probably going to be the main huge scope purchaser confronting web organization among a few to go IPO this year. Lenskart and PolicyBazaar are likewise set to list on public stock exchanges this year. SaaS banner kid Freshworks and Delhivery likewise have set an objective to open up to the world by 2021. 

As indicated by our experts, the organization's losses became 2.4X to Rs 2,385.6 crore in FY20. The online food conveyance major additionally enrolled a 98.4% flood in its assortments to Rs 2,605 crore in FY20 from Rs 1, 312.6 crore in FY19.