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Zomato, an Indian meal delivery service, is planning an IPO with a valuation of about $8 billion.
Photo courtesy of Zomato
Reuters, 8 July 2021
The initial public offering (IPO) of Indian meal delivery business Zomato is priced at 72 to 76 rupees per share, giving it a valuation of up to $7.98 billion, the company said on Thursday, as it capitalizes on a pandemic-driven rise in online orders.
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Zomato
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Markets & Initial Public Offerings
Due to an increase in online meal ordering, India’s Zomato has raised its IPO valuation aim to $10 billion.
The company was looking for a $8 billion valuation three months ago.
Grofers, an Indian online supermarket, is likely to raise $120 million from Zomato and Tiger Global, according to a report.
Grofers is projected to be valued at somewhat more than $1 billion as a result of the funding.
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