Zomato IPO: Food delivery platform likely to file DRHP today



Food delivery platform Zomato is likely to file its Draft Red Herring Prospectus (DRHP) with the market regulator on April 23, a move that will herald one of India's most anticipated internet initial public offerings (IPOs) in a tumultuous year.

Zomato, which counts Info Edge, Sequoia Capital, Temasek and Tiger Global as investors, will submit its DRHP with Securities Exchange Board of India (SEBI) for a listing of its shares today, people familiar with the development told Moneycontrol.


The company's internal review of the IPO and other processes was completed on Thursday, one of the persons cited above said. SEBI will take about two weeks to review the DRHP and the final launch will depend on the market conditions, the person said, asking not to be named.


A Zomato spokesperson declined to comment on the development. However, after the story was published, Zomato's founder Deepinder Goyal issued a denial on Twitter. He said, "This is incorrect. Wouldn't typically comment on speculation, but had to in order to stop the barrage of phone calls from the press and friends/family. Back to work."


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