Zomato is preparing to appoint merchant banks and law firms as it braces to become the first modern consumer internet IPO to list on the Indian bourses, people familiar with the matter told Moneycontrol.
If Zomato’s plans fructify, it will be India’s first internet IPO since Info Edge (which happens to be a Zomato shareholder) that made its market debut in 2006.
“Zomato has picked Kotak Mahindra Capital as the left lead merchant bank for the proposed IPO in 2021. Additional merchant banks, both domestic and international, are likely to be added at a later stage. Law firms Cyril Amarchand Mangaldas and Indus Law are on board as legal advisors,” one of the persons cited above told Moneycontrol. A second person confirmed the same.