Zomato files for $1.1billion IPO.
Indian food conveyance startup Zomato on Wednesday petitioned for the first sale of stock, guiding another time for tech unicorn new companies on the planet's second-biggest web market following quite a while of promising development.
The 12-year-old Gurgaon-settled Indian startup, which checks Info Edge and Ant Group among its biggest financial backers, plans to raise $1.1 billion from the IPO (about $1 billion from giving new offers), it said in the recording to the neighbourhood market controller. The startup, which has organizations in 24 business sectors, expects to list on Indian stock trades NSE and BSE.
Zomato, which has raised more than $2.2 billion (as per research firm Tracxn), and was estimated at $5.4 billion in its latest gathering pledges round, said it might consider raising an extra $200 million in front of public posting.
A ton is riding on Zomato's possible posting on Indian stock trades. A fruitful posting is ready to empower almost twelve other unicorn Indian new companies to speed up their endeavours to tap the public business sectors.
Indian new businesses have raised a huge number of dollars in the previous decade, yet have so far been generally hesitant to tap the public business sectors. As of late, fruitful posting by a modest bunch of firms, including IndiaMart and portable gaming firm Nazara, has shown that financial backers in India do have solid hunger for tech stocks.