Indian food delivery start-up Zomato planning to file $650 mn IPO next month: Report

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Indian food delivery startup Zomato is planning to file the draft prospectus by April for its IPO that could raise about $650 million, sources said.

Backed by Jack Ma’s Ant Group, Zomato may complete the listing in Mumbai before the end of September 2021, said a Bloomberg report.

Founded in 2008, the foodtech unicorn employs over 5,000 people across the country.

Recently, it has also raised $250 million from investors, which valued the company at $5.4 billion, an exchange filing stated.