NEW DELHI: Zomato Pvt, an Indian meals delivery startup backed by Jack Ma’s Ant Group, is planning to file the draft prospectus by April for its preliminary public providing that might elevate about $650 million, in accordance with individuals aware of the matter.
The firm might full the itemizing in Mumbai earlier than the tip of September, the individuals stated, asking to not be recognized as the data is personal.
Deliberations are ongoing and particulars of the providing corresponding to dimension and timeline might change, the individuals stated. A consultant for Zomato didn’t instantly reply to requests for remark.
Founded in 2008 in Delhi, the corporate employs greater than 5,000 individuals, in accordance with its web site. Zomato lately raised $250 million from traders together with Kora Management and Fidelity Management & Research Co, valuing the startup at $5.4 billion, in accordance with an change filing in February by Info Edge India Ltd., an current backer.
The pandemic has pushed many Indian customers to shift their spending on-line, bolstering the fortunes of e-commerce corporations like Zomato as they goal to go public. Nykaa E-Retail Pvt, backed by TPG Capital, is planning to record the corporate within the native market and to hunt a valuation of at the least $3 billion, Bloomberg News has reported.
Global IPO volumes are heading for one of the best quarter since at the least 2009 with greater than $188 billion raised up to now this yr, knowledge compiled by Bloomberg present.