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"Till the time Zomato is not falling below its issue price, these dips should not worry investors"
Speculations over Zomato filing for an IPO were put to rest when founder Deepinder Goyal denied any such plans in a tweet on Friday.
Earlier a moneycontrol.com report said that the food delivery platform is considering filing the Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) on Friday.
Commenting on the report, he tweeted, “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.”
DRHP is the primary document that a company that wants to list its shares on a stock exchange files with Sebi. The document contains important details about the company, including the date of incorporation, description of the business model, and risks, among other things.
The company was founded by Deepinder Goyal and Pankaj Chaddah as Foodiebay in 2008 and was renamed Zomato on 18th January 2010.