Zomato files papers for Rs8,250-cr IPO

New Delhi, April 28

Ant Group-backed online food ordering platform Zomato has filed preliminary papers with capital market regulator SEBI to raise Rs 8,250 crore through an initial share-sale at a time when the demand for its services is growing due to Covid pandemic-related restrictions.

The company’s revenue in FY20 jumped over two-fold to around Rs 2,960 crore as compared to 2018-19 fiscal. The online food delivery segment has seen significant growth in the past few years with Zomato and Swiggy competing head-on to grab market share. —PTI

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