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Zomato has received the Securities and Exchange Board of India’s (SEBI) approval to raise Rs 8,250 crore through an initial public offering (IPO). The public issue comprises fresh issue of equity shares worth Rs 7,500 crore and an offer-for-sale to the tune of Rs 750 crore by Info Edge (India). The shares the company will be listed on BSE and NSE.

The company, which filed the draft red herring prospectus with the SEBI in April, got the regulator’s approval on July 2, 2021. Proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives; and general corporate purposes. Kotak Mahindra Capital Company, Morgan Stanley India Company and Credit Suisse Securities (India) are the global coordinators and book running lead managers to the issue.

Zomato is an Indian multinational restaurant aggregator and food delivery company founded by Pankaj Chaddah and Deepinder Goyal in 2008. It provides information, menus and user-reviews of restaurants as well as food delivery options from partner restaurants in select cities.