Forums » Discussions » Top Zomato Shareholders Won't Sell All Their Shares in Indian Startup IPOs
Indian internet company Info Edge does not plan to sell all of its stake in Zomato once the food delivery company is listed on the stock exchange. said senior management
Zomato in April filed for an initial public offering of SLOT up to Rs 82.5 billion ($1.1 billion), in which the company will issue new shares worth up to Rs 75 billion, the company said it plans to use the proceeds. Received to fund organic and inorganic growth initiatives. This could include mergers or acquisitions.
Info Edge, the startup's largest shareholder, will sell shares worth up to 7.5 billion rupees ($101 million), the company said in an April stock exchange filing.
We are continuing to invest in Zomato, we will not sell all of our shares,” Chintan Thakkar, Info Edge's CFO and executive director, told CNBC's “Street Signs Asia” on Tuesday.
Zomato stakeholders
Info Edge was the first institutional investor to back Zomato and currently owns approximately 18% of the startup. Other shareholders include ride-hailing giant Uber, Alibaba's Ant Group and Singapore state investor Temasek.