new Delhi27 minutes ago
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- The company will raise a little over $ 146 million under its J round funding
Food-tech unicorn Zomato is set to launch an IPO in the first half of 2021. The company has selected Kotak Mahindra Capital as the lead investment banker for this. The company will raise a little over $ 146 million under its J round funding.
Prior to the IPO in 2021, Zomato has prepared to raise Rs 1100 crore. In the next few weeks, Mirei Asset, Steadview Capital, Luxor Capital Partners and ASP India will invest in Zomato. For this, Zomato will issue 34,873 convertible culpable preference shares (CCPS). It can be priced between Rs 235 to Rs 300.
In October this year, the company raised Rs 37.9 crore from the Pacific Horizon Investment Trust. Pacific Horizon Investment Trust previously invested $ 5 million in Zomato in March this year. Let us know that in September this year, the company’s co-founder and CEO Deepender Goyal had told his staff in an email that the company was considering an IPO in mid-2021.
Explain that the online food industry is worth about $ 80 billion. On-line food delivery is estimated to reach $ 22 billion by 2025. It can grow at a CAGR of 40 percent annually. Jomato has a market share of 50 percent in this segment.