Zomato gets Sebi approval for Rs 7,500 crore IPO: ETNow

MUMBAI: Online food aggregator Zomato has received an approval from the Securities and Exchange Board of India (Sebi) to launch its Rs 7,500 crore initial public offering, business news channel ETNow reported.

Earlier, The Economic Times had reported that Zomato could launch its much-awaited public offering later this month.

The IPO is one of the most-awaited one of the year as it will see the listing of one of India’s biggest startup unicorns funded by marquee private equity firms like Tiger Global Management, Fidelity and publicly listed Info Edge India.


Info Edge, the largest shareholder in Zomato, is looking to sell a stake worth Rs 700 crore through the public offering, while Zomato will raise the remainder of the sum via fresh issue of shares.

The IPO is likely to value the online food aggregator at close to $9 billion. Zomato has stated that its plans to use majority of the proceeds for organic and inorganic growth, according to information on the company’s draft prospectus.