We are working on Zomato IPO, Info Edge CFO and ED Chintan Thakkar said in chat with Anil Singhvi; wants boost for startups in Budget 2021

Zee Business Managing Editor Anil Singhvi on Monday invited Info Edge Chief Financial Officer (CFO) and Executive Director (ED) Chintan Thakkar on his 'News Par Views' show and asked for clarifications on the buzz about Zomato IPO and when it would be launched.  

Talking about the Zomato IPO, Info Edge Chief Financial Officer said, "We are working on it. As an investor, we want the company to keep itself ready, so that when there is good opportunity it can open its IPO.  The company is preparing for it and it appears paper work and other aspects concerning the IPO should be ready within three months. Then it will depend on the board's permission as in when it allows Zomato to come up with its IPO."

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NEWS पर VIEWS BUDGET SPECIAL

जोमैटो के IPO की तैयारी लगभग पूरी, अधिग्रहण के जरिए विस्तार पर कंपनी का फोकस। बजट में स्टार्टअप इंडस्ट्री के लिए बड़े ऐलान होने चाहिए: चिंतन ठक्कर, CFO & ED, #InfoEdge#NewsParViews #BudgetOnZee@AnilSinghvi_ @Naukri @99acresIndia @Jeevansathi_com pic.twitter.com/RCkJoGIgPm

— Zee Business (@ZeeBusiness) January 18, 2021

Replying to the Market Guru about the company's expansion plan In the 'News Par Views' segment of Zee Business, Thakkar said, " The company has roughly $450 million in cash. We were even generating cash during Covid times when businesses were hit. The company has cash and it is further generating more cash. So, we are open to the idea of inorganic growth and can practice acquisition in days to come. It can be a big acquisition or multiple small acquisitions."

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On the upcoming Union Budget 2020, Info Edge Executive Director said that the government should consider giving benefit to startup industries.    

About December quarter result of the company, he said though it has not been announced yet but the trend in traffic suggest that it has almost reached pre-Covid level. "It is a good sign as Covid is still around and we have started to perform. As trend suggests, we can expect some growth in Q4 and it is expected that we will get very good growth in FY 22."