Zomato is expected to launch its IPO around June 2021 for a valuation of $6-8 billion.
Zomato is probably going to raise $750 million to $1 billion through its arranged first sale of stock (IPO) – without financial backer exits or offer deals. The food conveyance startup would be among the primary Indian tech new companies to open up to the world in 2021.
Zomato's current financial backers incorporate names like Tiger Global, Temasek Holdings, Sequoia Capital and Info Edge (India). Their choice to not sell shares at IPO implies that they, and different financial backers, would not make returns quickly, the report noted.
Zomato is required to dispatch its IPO around June 2021 for a valuation of $6-8 billion. Its Investors' sponsorship will help against solid rivalry from Swiggy – which is additionally raising new capital of $800 million.
Sources originally provided details regarding August 9, 2020, that Zomato was hoping to secure expensive speculations from any semblance of Tiger Global and Temasek in front of a focused IPO one year from now. The report likewise demonstrated that the firm was hoping to diminish its money to consume and draw nearer to benefits.
The Gurugram-based online eatery aggregator and its primary rival Swiggy have battled like different organizations because of the decline from the COVID-19 pandemic. Zomato laid off labourers, cut compensations and pulled out from a heap of urban areas during the lockdown. However, it has since reworked its business, including pointedly decreasing limits for food conveyance and presenting contactless eating, to endure the financial aftermath of the pandemic.
