There were several important developments in the startup space during the week, which include IPO-bound Zomato eyes $8.7 billion valuation; PharmEasy to acquire 66 percent stake in Thyrocare; Digit Insurance is raising $200 million, and OLA e-scooter deliveries from August and raises $4.4 billion in upsized US IPO. Here are the stories that made headlines in the startup universe this week.
Zomato raises offer size to $1.25 bn; eyes $8.7 bn valuation
Food delivery platform Zomato is likely to have increased the offer size to nearly $1.25 billion with primary fundraise said to be about 20 percent higher at $1.2 billion, sources told CNBC-TV18.
The company is eying a listing valuation of $8.7 billion and plans to launch the IPO by mid-July, sources added.
The offer size has been raised from $1.1 billion earlier due to huge demand from the global tech specialist funds and EM fund, sources added.
The company has increased the primary issuance by 20 percent to $1.2 billion, while it has reduced the offer for sale (OFS) or the secondary potion by 50 percent to $50 million. The OFS is likely…
