Zomato raises $150m, acquires additional $50m from existing shareholder InfoEdge

A $150m has been raised by Zomato from the payment affiliate Ant Small and Micro Financial Services Group (Ant Financial), along with acquiring a sum of $50m from existing shareholder InfoEdge, as per sources.

AZB & Partners Delhi Partner Vinati Kastia is advising Zomato and its founders.

Rohan Ghosh Roy, Partner at Trilegal is acting for Ant Financial.

Also, J Sagar Associates (JSA) team led by Partners Rohitashwa Prasad and Swetha Prashant, and Associate Anshu Bansal advised InfoEdge, which is selling a 6.66% stake in Zomato to Ant Financial for $50mn. By reducing its stake from 44.74% to 30.91%, InfoEdge, along with its subsidiary Naukri Internet Services, will still retain the spot of the biggest single shareholder.

The transaction is expected to close on 15 April 2018.