zomato IPO: Zomato founder denies filing IPO draft papers with Sebi

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NEW DELHI: Food delivery services provider Zomato has denied media reports that it will be filing draft red herring prospectus (DRHP), an important step to go public, on Friday.

Deepinder Goyal, the founder of Zomato, in a tweet said the news was “incorrect”.

“Wouldn’t typically comment on speculation, but had to in order to stop the barrage of phone calls from the press and friends/family. Back to work (sic),” said Goyal.

Earlier, Moneycontrol, citing sources, had said Zomato was likely to file its draft papers with the market regulator Sebi on April 23. The company’s internal review of the draft and other processes was completed on Thursday, the publication reported.

Zomato has Info Edge, Sequoia Capital, Temasek and Tiger Global as investors. Its initial public offering (IPO) is one of the much anticipated on Dalal Street, which will likely trigger the listing of many of India’s startups.

A few days ago, Zomato converted itself from a private company to a public limited company by amending its Memorandum of Association and renaming itself Zomato Limited. It said the move to become a public limited company was required as it plans to consider filing IPO papers with Sebi.

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