Sources mentioned the DRHP shall be filed with market regulator, Securities and Exchange Board of India, on Wednesday.
Info Edge India mentioned its investee firm – Zomato – has proposed an preliminary public providing of recent fairness shares and likewise a suggestion on the market, in accordance to the submitting.
Info Edge shares gained 1.1% to shut at Rs 4,944.50 on Tuesday.
ET was the
first to report on March 3 that Zomato is anticipated to increase $750 million to $1 billion via its IPO.
The Gurugram-based firm is probably going to be valued at $6-$8 billion and can emerge as the primary huge shopper web startup to faucet the general public markets amid a bunch of different home web corporations eyeing an IPO in the subsequent 12 months or so.
The shareholding of Info Edge, Zomato’s first institutional investor which made a Rs 4.7-crore funding in the corporate in August 2010, is value Rs 7,270 crore, in accordance to its newest regulatory filings.
“For us, it has been really smooth, because Info Edge owned 58% of us back in 2012-13. So, our numbers used to get reported and they were folded up into their quarterly earnings. So, our finance team has been the best since then. We have been deemed to be a public company all throughout,” Deepinder Goyal, CEO of Zomato, instructed ET in March when requested about its journey in the direction of a public itemizing.
Ant Financial, the opposite massive shareholder in Zomato with an about 20% stake, has been unable to take part in the corporate’s funding rounds following a clampdown on Chinese investments in India.
Ant’s stake is value Rs 7,729 crore, as per information offered by startup business tracker Tracxn.
In the run-up to the IPO, Zomato has
added five new independent members to its board, which incorporates 4 ladies.
How Zomato’s cap table has evolved