zomato IPO: We listed in India so our customers could own a part of us indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
ETtech
Sanjeev Bikhchandani, the founder and vice chairman of Info Edge, wrote
Zomato’s first cheque of Rs 4.7 crore in 2010 and was its sole investor in the first four funding rounds. Info Edge, which runs portals like
Naukri.com and 99 acres.com, has seen its investment value
zoom nearly 1,050 times after the food delivery app’s IPO. Bikhchandani, who has been closely associated with Zomato through all its crests and troughs, told ET’s Digbijay Mishra and Sneha Shah in an interview that it will hold on to the bulk of the shareholding (around 15%) as it sees tremendous growth potential in Zomato. Info Edge, he said, has seen an internal rate of return (IRR) of roughly 60% from the restaurant aggregator over the years, a record. Bikhchandani, a first-generation internet entrepreneur, also spoke about what the Zomato IPO means for the startup ecosystem and how exits will ensure more capital is ploughed back. Edited Excerpts:
We are holding on to Zomato, there is still tremendous potential: Sanjeev Bikhchandani
SECTIONS
Share
Synopsis
Overall, the Zomato investment has delivered handsome returns – our back of the envelope calculation is that the IRR is more than 60%. Over a 11-year period, this must be some sort of a record. Great companies do that for their investors.
ETtech
Sanjeev Bikhchandani, the founder and vice chairman of Info Edge, wrote
Zomato’s first cheque of Rs 4.7 crore in 2010 and was its sole investor in the first four funding rounds. Info Edge, which runs portals like
Naukri.com and 99 acres.com, has seen its investment value
Zomato IPO plan: How Zomato executed its IPO plan indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Zomato s IPO playbook
SUBSCRIBE
Thank you for subscribing to Unwrapped
We ll soon meet in your inbox. / Unwrapped
This is Samidha. After its hugely successful IPO last week,
Zomatomade a bumper debut on Dalal Street on Friday (July 23). The stock closed at Rs 125.85 on the Bombay Stock Exchange, 65.59% higher than the issue price.
I delved into the various factors from meticulous planning to perfect timing that made Zomato’s journey to the public markets a hit.
On Sept. 12, 2020, Deepinder Goyal, Zomato’s founder and CEO, wrote an email to employees, which seemed more like an update on their fundraise.
But somewhere in the middle of that email, he said the food-delivery and restaurant-discovery platform was on course to tap the public markets by mid-2021. For the first time he had given a specific timeline for the IPO.