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Info Edge to sell Zomato shares worth Rs 750 crore in IPO

The company's board has given its approval to participate in the said OFS of up to such number of shares of Zomato Limited as would aggregate up to Rs 750 crore, Info Edge said in a regulatory filing.

April 28, 2021 / 07:07 AM IST
Representative image

Representative image

Info Edge Limited on April 27 said that it would be selling stakes worth Rs 750 crore in its investee company Zomato Limited via Offer For Sale (OFS) in the latter's upcoming initial public offering (IPO).

"This is to inform you that Zomato Limited is proposing an IPO of its Equity Shares, comprising a fresh issue of Equity Shares by Zomato Limited ('Fresh Issue') and an Offer For Sale by Info Edge (India) Limited ('Offer For Sale')," it said in a regulatory filing.

Info Edge currently holds around 19 percent stake in the food delivery aggregator company.

Also Read: Zomato to raise up to $1 billion from investors ahead of IPO: Report