Zomato IPO — Live GMP Update, Review & Important detail 2021
Zomato is a global network that integrates over 55 million consumers with restaurants in 24 nations Daily, They strive to provide better food to a greater number of individuals through restaurants. Zomato IPO will hit the market in 2021.
They push consistency, connectivity, assortment, and affordability in order to achieve this and ensure that restaurants are a fantastic option to home cooking. Daily, Zomato aligns itself to 4 parameters QAAA.
Journey
Zomato began as a platform that offered restaurant information to help visitors make better choices before hanging out, established by Deepinder Goyal and Pankaj Chaddah in 2008. Zomato is now on a mission to transition from a food tech business to a farm to table firm.
Since their establishment in 2008, they have grown dramatically and now have a workforce of over 5000 Zomans from 32 nationalities who assist millions of customers daily choose where to eat from 1.4 million restaurants featured or deliver over 28 million food orders per month.
Several investors have contributed to their success, and they have raised over 600 million dollars in investment to date. With a billion dollar asset value in 2015, Zomato was designated as a unicorn, and its value has since doubled.
Services
- Restaurant Feedback and Rankings
- Food Delivery of Ordering Online
- Hyperpure: Materials Supply to restaurants
- Restaurant Identification & Browsing
- Pick-up: Selling Takeaway Food
- Reservation of Table in Restaurant
- Food @ work: Cafeteria
- Gold: Restaurant exclusive membership programs
Issue
According to multiple individuals connected with the progress the food-delivery app IPO, the firm is ready to be the first across a rising tribe of Indian tech startups seeking a listing this year.
They planned to collect $750 million to $1 billion via its initial public offering (IPO). However, unlike typical IPOs, no investment company is expected to divest their shares and leave or take money out of the system.
Objects of the Issue
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
- To meet common corporate objectives.
Originally published at https://profitmust.com on April 12, 2021.
