In a draft red herring prospectus (DRHP) filed with the market regulator, Zomato said it aims to raise Rs 8,250 crore in capital by offering the company's equity shares for sale.
"This is incorrect. Wouldn't typically comment on speculation, but had to in order to stop the barrage of phone calls from the press and friends/family. Back to work," he tweeted.
Reports surfaced last month that in a bid to enter the competitive social media market, Microsoft may acquire popular chat and communications platform Discord for more than $10 billion.
On the long-term growth story of India, he said the economy is expected to record double digit growth next financial year.
According to merchant banking sources, the IPO is expected to fetch Rs 700 crore.
The shares were set to trade on the Nasdaq Global Select Market on Thursday under the symbol "BMBL".
Targeting to raise Rs 1.75 lakh crore from the asset sale to finance projects aimed at reviving the pandemic battered economy, the government is also looking to sell Shipping Corp of India (SCI), IDBI Bank Ltd
WeWork's board and its Chief Executive Sandeep Mathrani have been weighing offers from a SPAC affiliated with Bow Capital Management LLC and at least one other unidentified acquisition vehicle for several weeks," the report said
The offering would include equity shares aggregating up to Rs 1,500 crore and offer of sale of up to Rs 5,800 crore by the promoter BCP Topco VII Pte Ltd.
Burger King India's share sale was subscribed a massive 156.65 times earlier this month.
The government plans to sell minority stake in the insurance behemoth and list it on the bourses
Of the 70 anchor investors, major investors that were allotted equity shares include Small Cap World Fund with 6.62 per cent of shares, Government Of Singapore with 5.32 per cent
The net proceeds are to be used for expansion of production facilities at Dahej and Jhagadia in Gujarat between FY21 and FY22
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