Zomato IPO likely to file DRHP today: Report
Zomato IPO likely to file DRHP today: Report

Deepinder Goyal-led Zomato is more likely to file its Draft Red Herring Prospectus (DRHP) with the market regulator on April 23 (today), stated Moneycontrol report. The food delivery application has concluded with its internal review of the initial public offering (IPO) and other pre-filing processes.

While the revenues of the company increased in FY 2020, it also reported loss mainly due to lockdown imposed during the COVID-19 pandemic. The food delivery application Zomato reported a revenue of Rs 2,486 crore for FY20, stated a news report.

The investors of the company are Ant Group, Info Edge, Sequoia Capital, Temasek and Tiger Global. The company recently closed a $250 million primary funding round with another $250 million of shares being sold. Two months before raising $250 million, Zomato raised around $660 million.

A few days back, Zomato converted itself from a private company to a public limited company. This was done by amending its Memorandum of Association and renaming itself Zomato Limited. It said the move to become a public limited company was required as it plans to consider filing the DRHP with SEBI and relevant stock exchanges to list its equity shares on one or more of the stock exchanges. It was originally incorporated as a private limited company on January 19th, 2010.

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