Zomato's mega IPO gets Sebi nod, may hit market as early as this month

The company, backed by Ant Group, is planning to issue fresh shares worth Rs 7,500 crore in the IPO

Food delivery company Zomato has obtained market regulator Sebi’s greenlight to launch its Rs 7,875-crore initial public offering (IPO). Investment banking sources said the mega issue could hit the market as early as this month.

The processing status of draft red herring prospectus (DRHP) filed on the regulator’s website showed Zomato, Chemplast Sanmar and Tatva Chintan Pharma received observation letters from Sebi last week. Getting a final observation letter is akin to getting a go-ahead to launch the IPO, said investment bankers. About 20 other DRHPs filed with Sebi are at various stages of the approval process.

Zomato had filed