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Zomato IPO: Food Delivery Giant draft papers with SEBI?

Zomato founder, Deepak Goyal denies the reports of the company filing draft papers with SEBI for IPO launch. He denied drafting the red herring prospectus (DRHP) which is an important step to go public

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Deepak Goyal-led Zomato is currently in the headlines as it has launched the new feature amidst the pandemic Coronavirus outspread. This food delivery giant has rolled in a new feature -COVID-19 emergency to order food for fasted track delivery. The company stated that order gains in this category will be put on the priority list. Also, it is for people who are unable to come out because of quarantine and people who can’t cook at home. Today, the brand is making buzz on social media for yet another reason, its plans for filing IPO. According to media reports, Zomato is planning to file the draft papers with SEBI for the IPO launch. However, the founder denied these reports.

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Reacting to the reports of Zomato prepping for the IPO, founder, Deepak Goyal tweeted commented on his official  handle-“This is incorrect.” His post read further, “Wouldn’t typically comment on speculation but had to in order to stop the barrage of phone calls from the press and friends/family. Back to work.”

For the unversed, Zomato’s initial public offering of shares is highly anticipated. Among prominent investors of Zomato include Info Edge, Sequoia Capital, Temasek and Tiger Global. The company has recently converted itself from a private firm to a public limited company, thereby rebranding as Zomato Limited, stated the reports few days ago.

For more such updates, stay hooked on to The Live Mirror.

Also Read: Zomato Row: Influencer Hitesha Leaves Bengaluru After Address Leak

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