Zomato denies speculations of filling IPO

Few days back, the reports said that food giant Zomato has converted itself into a public limited company from a private company.

Zomato founder Deepinder Goyal had denied the speculations over Zomato filing for an IPO.

Few days back, the reports said that food giant Zomato has converted itself into a public limited company from a private company, taking another step ahead towards initial public offering (IPO). The company is likely to go public this year.

Also, the company is considering filing the DRHP with the market regulator Securities and Exchange Board of India (SEBI).

A Money Control report claims that the food delivery platform is considering to file the Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) on Friday.

Goyal tweeted, “This is incorrect. Wouldn’t typically comment on speculation, but had to in order to stop the barrage of phone calls from the press and friends/family. Back to work.”

Zomato is an Indian multinational restaurant aggregator and food delivery company founded by Pankaj Chaddah and Deepinder Goyal in 2008.

Recently in the year 2020 Zomato acquired its rival Uber Eats’ business in India in an all stock deal, giving Uber Eats 10% of the combined business.

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