Zomato’s initial supporter Sequoia Capital has sold offers worth $25 million while Nexus has moved its offers to Moore Strategic Ventures for $25.4 million.
Zomato recorded its Draft Red Herring Prospectus or DRHP for its IPO on Wednesday to raise $1 billion essential capital and as indicated by the draft, seven of its partners have sold more than $319 million offers in an optional exchange executed in February 2021.
The partners who in part left from Zomato incorporate Alipay, Nexus Sunlight Fund, Sequoia Capital, Blume Ventures, and its fellow benefactors Deepinder Goyal and Pankaj Chaddah.
The Chinese advanced installments major Alipay has sold $175 million worth stake in the optional exchange executed in February. As indicated by Fintrackr’s appraisals, post the exchange, Alipay actually holds 8.33% in Zomato.
Nexus Sunlight Fund was the second biggest recipient in the optional exchange. The Chinese asset made $49.3 million in the exchange.
Zomato’s initial supporter Sequoia Capital has sold offers worth $25 million while Nexus has moved its offers to Moore Strategic Ventures for $25.4 million.
Nexus and Blume procured their stakes in Zomato through Runnr after the last was consumed by the food tech major in 2017 in an expected arrangement worth $40 million.
Zomato’s CEO Deepinder Goyal has offloaded 0.63% stake worth $32.4 million. As of now, Goyal holds 5.51% stake in the organization he helped to establish 11 years prior.
While the organization’s board had as of late designated him as MD until 2026 with an expanded essential compensation of Rs 3.5 crore per annum, Goyal has mentioned the board to defer off his compensation for the following a day and a half.
Source: Business World
