In this tumultuous years of Covid-19 pandemic, online food delivery platform Zomato is looking to raise Rs 8,250 crore through its initial public offering (IPO). Zomato has filed its Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) today, introducing the country’s much-awaited IPO.

The IPO, Zomato said, will be a mix of fresh issue of equity shares and an Offer For Sale (OFS) by existing shareholder Info Edge Ltd, the parent firm of Naukri.com. Zomato’s IPO could be the largest to hit Dalal Street since SBI Cards and Payment Services in March 2020.

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Of the Rs 8,250 crore raised by Zomato, Rs 7,500 crore will be a fresh issue, while another Rs 750 crore will be an OFS by Info Edge, according to the report published in Money Control. Zomato has reportedly said that it might consider a private placement of Rs 1,500 crore ahead of the IPO.

Zomato’s total income stood at Rs 2,742 crore in the fiscal year ending March 2020. But then hit the pandemic and the company’s income dropped to Rs 1,367 crore, and the company still is a loss-making entity as of now.

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Valued at $5.4 billion, Zomato has Ant Financials, Info Edge, Sequoia, and Uber as some of its investors.