Revenue around Rs 2,960 crore.
Online food delivery segment seen significant growth.
New Delhi: 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-19 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 last few years with Zomato and Swiggy competing head-on to grab market share.
The initial public offer (IPO) comprises fresh issue of equity shares worth Rs 7,500 crore and offer for sale to the tune of Rs 750 crore by Info Edge (India) Ltd, draft red herring prospectus (DRHP) filed with Securities and Exchange Board of India (Sebi) showed on Wednesday.
Smart Share Global, an Alibaba-backed Chinese power bank rental start-up, downsized a US$150m Nasdaq IPO last week as the threat of mass delistings and a string of fire sales in US-listed Chinese stocks dented investor appetite.
Smart Share Global opened books on Tuesday after a turbulent week for US-listed Chinese companies. The entire sector fell heavily on March 24, when the US Securities and Exchange Commission said it would begin implementing legislation that calls for the delisting of companies that fail to comply with US audit oversight requirements for three years in a row.
On top of that, a series of massive margin calls related to hedge fund Archegos Capital Management triggered fire sales of billions of dollars in individual Chinese stocks. The stocks sold were Baidu, Vipshop, Tencent Music Entertainment, iQiyi and GSX Techedu.
Chinese US listings press ahead ifre.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ifre.com Daily Mail and Mail on Sunday newspapers.
Commentary: A Gojek-Tokopedia merger has ramifications for regional unicorns including Grab and Sea Toggle share menu
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Commentary: A Gojek-Tokopedia merger has ramifications for regional unicorns including Grab and Sea At first blush, a merger between Gojek and Tokopedia appears sensible but a closer look suggests huge challenges, says lawyers Joel Shen and Gabriel Li.
Collage of Grab and Gojek file photos. (Photo: Reuters/Kham Beawiharta)
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SINGAPORE: One of Jakarta’s best kept secrets is that it hosts the largest Jazz festival in the Southern Hemisphere.
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