# Riding on surge in food deliveries, Zomato files for ₹8,250 crore IPO | Tech News (HT Tech)
> In February, the company had raised USD 250 million (over ₹1,800 crore) in funding from Tiger Global, Kora and others, valuing the online food ordering platform at USD 5.4 billion.
# Riding on surge in food deliveries, Zomato files for ₹8,250 crore IPO
## In February, the company had raised USD 250 million (over ₹1,800 crore) in funding from Tiger Global, Kora and others, valuing the online food ordering platform at USD 5.4 billion.
Aug 21 2022, 16:45 IST
A delivery worker of Zomato, an Indian food-delivery startup, waits to collect an order from a restaurant, during an extended nationwide lockdown to slow the spread of the coronavirus disease (COVID-19), in New Delhi, India, May 21, 2020. (REUTERS)
### By PTI
Food delivery platform Zomato has filed preliminary papers with capital market regulator Securities and Exchange Board of India (Sebi) to raise ₹8,250 crore through an initial share-sale.
The initial public offer (IPO) comprises fresh issue of equity shares worth ₹7,500 crore and offer for sale to the tune of ₹750 crore by Info Edge (India) Ltd, draft red herring prospectus filed with Sebi showed on Wednesday.
Proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives; and general corporate purposes.
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Previous coverage: Zomato said to plan IPO filing next month
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.
Zomato's FY20 revenue had jumped over two-fold to USD 394 million (around ₹2,960 crore) from the previous fiscal, while its earnings before interest, taxes, depreciation and amortization (EBITDA) loss was around ₹2,200 crore.
In February, Zomato had raised USD 250 million (over ₹1,800 crore) in funding from Tiger Global, Kora and others, valuing the online food ordering platform at USD 5.4 billion.
Read more: Edtech startup upGrad raises $120 million funding from Temasek
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and Credit Suisse Securities (India) Private Limited are the global coordinator and book running lead manager to the issue.
BofA Securities India Limited and Citigroup Global Markets India Private Limited have been appointed as merchant bankers to the public issue.
The equity shares of the company will be listed on BSE and NSE.
Last year, Zomato founder and CEO Deepinder Goyal had told employees that the company plans to go for an IPO in the first half of 2021.
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28 Apr, 14:14 IST
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