Zomato, the food tech unicorn, is planning an initial public offering (IPO)

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Zomato recently raised $250 million from investors together with Kora Management and Fidelity Management & analysis Co., valuing the startup at $5.4 billion, in line with associate degree exchange filing in February by data Edge Asian nation Ltd associate degree existing sponsor.

Zomato Pvt, Associate in Nursing Indian food delivery startup backed by Jack Ma’s hymenopterous insect cluster, is about to file the draft prospectus by April for its initial public giving that would raise concerning $650 million, in line with folks at home with the matter.

The company might complete the listing in Mumbai before the tip of the Gregorian calendar month, the folks same, asking to not be known because the data is non-public.

Deliberations square measure current and details of the providing like size and timeline might amendment, the folks aforementioned. A representative for Zomato didn’t like the short answer requests for comment.

Founded in 2008 in Delhi, the corporate employs quite five,000 people, in step with its web site. Zomato recently raised $250 million from investors as well as Kora Management and Fidelity Management & analysis Co., valuing the startup at $5.4 billion, in step with associate exchange filing in Feb by data Edge Republic of India Ltd., associate existing sponsor.

The pandemic has driven several Indian customers to shift their outlay on-line, bolstering the fortunes of e-commerce corporations like Zomato as they aim to travel publicly. Nykaa E-Retail Pvt, backed by TPG Capital, is about to list the corporate within the native market and to hunt a valuation of a minimum of $3 billion, Bloomberg News has reported.

Global IPO volumes are a unit heading for the most effective quarter since a minimum of 2009 with quite $188 billion raised to now this year, information compiled by Bloomberg show.

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