Zomato Delivery Partners
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Indian Food Delivery Zomato IPO in India at $8 Billion Market Value, Rising 65% on Day 1

30th July 2021 | Singapore

Indian food delivery Zomato has IPO in India with a market value of $8 billion (76 rupees), opening 52.6% higher with a market value of $12 billion (116 rupees) and rising 65% (126 rupees) to $13 billion market value on day 1.  Zomato is backed by Ant Group, raising $1.26 billion in the IPO that is 38 times oversubscribed, and is listed on 2 India’s largest stock exchange –  National Stock Exchange of India and BSE.  The lead managers for Zomato’s IPO are Kotak Investment Banking, Morgan Stanley & Credit Suisse and the book runners are Bank of America and Citi.  With the IPO, founders Deepinder Goyal (CEO) has an estimated net worth of $700 million and Pankaj Chaddah (COO) has an estimated net worth of $300 million. (IPO ~ Initial Public Offering)

” Indian Food Delivery Zomato IPO in India at $8 Billion Market Value, Rising 65% on Day 1 “

 

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Indian Food Delivery Zomato

Zomato Delivery Partners

Zomato was founded in 2008 as Foodiebay by Deepinder Goyal and Pankaj Chaddah.  In 2010, Foodiebay was renamed to Zomato and quickly grew to become one of India’s largest food delivery and restaurant aggregator.  Today, Zomato is in 525 cities in India and partner with 390,000 restaurants. 

For the year ending March 2021, Zomato reported revenue of $394 million and net loss of $293 million. 

With the IPO, founders Deepinder Goyal (CEO) has an estimated net worth of $700 million and Pankaj Chaddah (COO) has an estimated net worth of $300 million.

 

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