Can Zomato's existing foreign investors subscribe to its IPO: Banks to RBI, Sebi

Mumbai: In the run-up to the Zomato IPO, several banks have approached Reserve Bank of India (RBI) and Securities and Exchange Board of India (Sebi) to figure out whether existing foreign investors in the company can participate in the maiden equity offering. Multiple overseas investors in Zomato, who are keen to subscribe to the Rs 8,250 crore IPO, are grappling with a regulatory question — thanks to a 2019 rule which on a plain reading means