Indian Food Delivery Unicorn Zomato Likely To File For IPO Next Month

Food delivery unicorn Zomato is planning to file for an Initial Public Offering (IPO) by April which could raise $650 million, news agency Bloomberg reported.

The people familiar with that matter told Bloomberg that the company could complete this listing before the end of September.

Deliberations are ongoing and details of the offering such as size and timeline could change, the people said. A representative for Zomato didn’t immediately respond to requests for comment.

Last month, Zomato has raised an additional $250 million from existing and new investors. It completed the primary pre-IPO fundraise at a total valuation of $5.4 billion, a sharp rise from the $3.9 billion in December.

The funds have been raised by Kora Management LP, which led the round, infusing close to $115 million, along with Fidelity Management and Research, which infused $55 million and Tiger Global Management, which put in $50 million. New investors Bow Wave Capital and Dragoneer Investment Group also invested close to $20 million and $10 million in the company, respectively.

After this round, Zomato’s early investor Info Edge’s stake in the startup stands at 18.4%. Info Edge also owns a stake in insurance aggregator PolicyBazaar, which is also finalizing investment bankers to prepare for a potential IPO.

The latest fund infusion in Zomato is in addition to the $660 million primary fundraise undertaken by the firm last year from 10 new investors, including Baillie Gifford, Luxor Capital, Steadview, D1 Capital and Mirae Asset.

In the past year, the startup has been on a fundraising spree to bolster its cash reserves as it looks to build a war chest for acquisitions as well as to fight any possible price wars in the future.

Mint had earlier reported that Zomato was aiming to make acquisitions in the logistics space.

Zomato is also raising $140 million as part of a secondary transaction, the company’s founder and chief executive Deepinder Goyal said on Twitter in December.

The secondary deal is expected to give a partial exit to Chinese investors in its portfolio Ant Group and Sunlight Fund, a person aware of the discussion told Mint.

This article was first published on


Vietnams Bamboo Airways Aims Third-quarter Listing With Market Cap Of $2.73b

Vietnam’s startup Bamboo Airways said on Friday it aimed to list its shares on a local stock exchange in the thi... Read more

Didi Chuxing Advances IPO Plans To Next Quarter, Targets $62b Valuation

Chinese ride-hailing giant Didi Chuxing Technology Co. is accelerating plans for an initial public offering to as early... Read more

Warburg-backed Kalyan Jewellers IPO Loses Shine, Sees Tepid Demand

Kalyan Jewellers India Ltd’s initial public offering was oversubscribed by just 1.28 times on Thursday, a sign of tep... Read more

Chinese E-commerce Platform DMall Hires Banks For Over $500m US IPO

Chinese e-commerce platform Dmall (Beijing) E-commerce Co has hired Bank of America, Goldman Sachs and JPMorgan for a... Read more

Tencent-backed Chinese Software Firm Tuya Eyes $915m In US IPO

Tuya Inc., a software company backed by New Enterprise Associates and Tencent Holdings Ltd., is on track to raise $915 ... Read more

Coinbase Valuation Pegged At $68b Ahead Of Landmark US Listing

Coinbase Global Inc, the largest U.S. cryptocurrency exchange, said on Wednesday recent private market transactions had... Read more