Zomato’s losses tripled since IPO, revenue up 28%
"This divergence in reported profit/loss and Adjusted EBITDA will continue going forward," the company said
"This divergence in reported profit/loss and Adjusted EBITDA will continue going forward," the company said
The offer received bids for 770.07 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed.
The IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer for sale (OFS) worth Rs 375 crore by existing investor Info Edge.
Proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives; and general corporate purposes.
In another tweet, Goyal said that on top of this USD 660 million, the company is in the process of closing a USD 140-million secondary transaction.
The best part is that Zomato's burn rate is very low, and its market share is accelerating in all regions.
