Zomato, the food-tech company has converted itself to a Public Limited Company from a Private Company, well ahead of its initial public offer (IPO). In order to include possibilities of setting up its own restaurants and hotels, it has amended its Memorandum of Association (MOA).
After the conversion, Zomato has changed its name from ‘Zomato Private Ltd.’ to ‘Zomato Ltd.’ as sourced from regulatory filings by Tofler.
Filing a red draft herring prospectus with SEBI for the IPO is also being considered by the Company. It further stated about proposing the conversion as in conformity with the provisions of the Companies Act, 2013.
On Wednesday (April 28, 2021), Zomato, the online food ordering delivery platform, filed a draft of its much-anticipated red herring prospectus (DRHP) with market regulator SEBI, this becoming India's first major domestic consumer internet start-up to go public.In its filing, Zomato stated that it plans to collect Rs. 8,250 crores in capital by selling the company's equity shares, with Rs. 7,500 crore coming from new issue. The remaining Rs. 750 crore will be offered for sale by Zomato's...
Breaking Taboos: Zomato introduces period leave for its women employees
Aug 10, 2020
Editor: Ekta Joshi
Food delivery company Zomato on August 8 said that it would give female employees up to 10 days of "period leave" per year, as part of an effort to combat what it said was a stigma around the issue.Zomato is the most high-profile organization to institute the policy in India, a country where menstruation is still taboo to some. Founded in 2008, Gurugram-based Zomato is one of India's best-known companies, with more than 5,000 employees.Millions of women and girls in India still face...