Upon closing of the fund raise, Info Edge's shareholding in Zomato shall stand reduced to about 20.8 per cent on fully converted and diluted basis, it added.
Comments from Zomato could not be elicited immediately. Of the $195 million, $60 million was raised from Luxor Capital Group, through its different investment vehicles.
$50 million came from Kora Management, through its investment vehicle Kora Investments I and/or any of its affiliates, the filing said.
Mirae Asset, through its investment vehicle Mirae Asset, Naver Asia Growth Investment, and/or any of its affiliates, invested $40 million, it added.
Steadview Capital and Bow Wave Capital Management LP each invested $20 million, while $5 million came from Baillie Gifford & Co, through its investment vehicle Pacific Horizon Investment Trust and/or any of its affiliates, the filing said.
In September, Info Edge had informed the stock exchanges about Zomato raising $160 million (about Rs 1,173 crore) in funding from Tiger Global and Temasek Holdings subsidiary MacRitchie Investments, valuing the online food ordering platform at $3.3 billion.
After the September transaction, Info Edge’s shareholding in Zomato was at 22.2 per cent. Zomato — which competes aggressively with Prosus-backed Swiggy in the Indian market — plans to go for an initial public offering (IPO) in the first half of 2021, its founder and CEO Deepinder Goyal had told its employees at that time.
The online food delivery
segment has seen significant growth in the last few years with Zomato and Swiggy competing head-on to grab market share.
Earlier this year, Zomato acquired the Indian business of Uber Eats in an all-stock deal that will give the ride hailing company 9.99 per cent stake in Zomato.Interestingly, in May this year, Amazon India threw its hat in the ring and announced the launch of its food delivery operations in select parts of Bengaluru.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.