JSA advises Info Edge in selling stake worth Rs. 750 crore in the proposed IPO of Zomato
J. Sagar Associates (JSA) is advising Info Edge (India) Limited (Naukri.com) as a selling shareholder in the proposed IPO of Zomato. Zomato filed the Draft Red Herring Prospectus in connection with the offering on 27th April. Zomato intends to raise upto Rs. 7,500 crore by way of a fresh issue in the IPO, and Info Edge could raise upto Rs. 750 crore in an offer for sale of its shares in Zomato.
According to Info Edge, on a fully converted and diluted basis, Info Edge's effective stake in Zomato stands at 18.4 per cent.
In February, Zomato had raised USD 250 million (over Rs 1,800 crore) in funding from Tiger Global, Kora and others, valuing the online food ordering platform at USD 5.4 billion.
Zomato would be one of India's first big consumer internet startup-turned-unicorn to be listed. As per reports, it is one of the most keenly awaited IPOs in the Indian market.
JSA team comprised Lead Partner - Rohitashwa Prasad, and Associate – Aishwarya Abhijit.