Indian firms help Zomato go public  

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Indian law firm Cyril Amarchand Mangaldas (CAM) advised food delivery company Zomato on its recent INR93.75 billion (USD1.25 billion) IPO, which included an INR3.75 billion sale by multinational tech company Info Edge, an existing shareholder that was also Zomato’s first investor.

J Sagar Associates (JSA) advised Info Edge, while domestic firm IndusLaw and international firm Latham & Watkins advised the five managers. The IPO, which was a first for an Indian internet unicorn, saw Zomato listed on the NSE India and BSE on 23 July.

The net proceeds from Zomato’s IPO, which was oversubscribed 38 times, will be used for funding growth initiatives and for general corporate purposes.