MUMBAI : Zomato, India’s most valuable food delivery company, is seeking an IPO valuation of $10 billion amid a surge in online food-ordering, restaurant-bookings and subscriptions for Zomato Pro businesses, two people familiar with the development said. The latest valuation is significantly higher than the $8 billion the company was seeking about three months ago. Zomato is expected to launch its share sale later this month to become the first of India’s top unicorns to go public. “Several large asset management firms and some existing investors such as Temasek could be coming as anchor investors in Zomato’s IPO," said the first person. Zomato’s paid premium subscription programme “Zomato Pro" recorded 1.4 million members and over 25,350 Pro Restaurant Partners in India as of 31 December.

Source: Mint July 05, 2021 18:22 UTC