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MUMBAI: The Securities and Exchange Board of India on Monday gave its green signal to online food aggregator Zomato’s initial public offering (IPO) worth over $1 billion, documents from the regulator's website showed.
In April, the company had filed its papers seeking regulatory nod for the Rs. 7,875 crore IPO, the most-awaited public offer of the year.
The approval comes after one of the largest shareholders in the company, , decided to cut its offer for sale (OFS) in the IPO to Rs. 375 crore from Rs. 750 crore earlier.
Zomato will raise around Rs. 7,500 crore from the public offer via fresh issuance of equity shares. The company intends to use over Rs. 5,500 crore from the proceeds for organic and inorganic growth opportunities.
Earlier this month, The Economic Times had reported that the online food aggregator could hit the primary market this month.
Apart from Zomato, Chemplast Senmar and Tatva Chintan Pharma Chem also received the regulator’s nod for the initial public offering.
In April, the company had filed its papers seeking regulatory nod for the Rs. 7,875 crore IPO, the most-awaited public offer of the year.
The approval comes after one of the largest shareholders in the company, , decided to cut its offer for sale (OFS) in the IPO to Rs. 375 crore from Rs. 750 crore earlier.
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View Latest Stock Report »Zomato will raise around Rs. 7,500 crore from the public offer via fresh issuance of equity shares. The company intends to use over Rs. 5,500 crore from the proceeds for organic and inorganic growth opportunities.
Earlier this month, The Economic Times had reported that the online food aggregator could hit the primary market this month.
Apart from Zomato, Chemplast Senmar and Tatva Chintan Pharma Chem also received the regulator’s nod for the initial public offering.
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