Zomato files papers for Rs 8,250 cr IPO as orders surge during COVID pandemic

Online food delivery platform Zomato has filed for an initial public offering (IPO) with the Securities Exchange Board of India (SEBI), as the food delivery platform intends to raise Rs 8,250 crore (roughly $1.1 billion) this year amid the growing business in the pandemic. In a draft red herring prospectus (DRHP) filed with the market regulator, Zomato said it aims to raise Rs 8,250 crore in capital by offering the company's equity shares for sale.