Zomato gets Sebi’s go-ahead to float Rs 8,250-cr IPO

Food delivery platform Zomato has received markets regulator Sebi’s go-ahead to raise Rs 8,250 crore through an initial share-sale. The initial public offer (IPO) comprises fresh issue of equity shares worth Rs 7,500 crore and an offer-for-sale to the tune of Rs 750 crore by Info Edge (India) Ltd, according to draft red herring prospectus. Zomato, which filed preliminary IPO papers with Sebi in April, obtained its observation on July 2, an update with the regulator showed on Monday. Sebi’s observation is very necessary for any company to launch public issues like IPO, follow on public offer (FPO) and rights issue. 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