Food delivery startup, Zomato is planning to file the draft prospectus by April for its initial public offering (IPO) that could raise about $650 million, said a report by Bloomberg, citing people familiar with the matter.

Citing it sources, the report further said that the Gurgaon-based company could complete the listing in Mumbai before the end of September, the people said, asking not to be identified as the information is private. Discussions are ongoing and details of the offering such as size and timeline could change. 

Last month, Zomato raised US$250 million from five investors, including Tiger Global Management, at a valuation of $5.4 billion. Backed by Jack Ma’s Ant Group, Zomato acquired its rival Uber Eats' business in India, in January last year, in an all stock deal, giving Uber Eats 10% of the combined business

Founded in 2008 in Delhi, the company employs more than 5,000 people, according to its website. Zomato recently raised $250 million from investors including Kora Management and Fidelity Management & Research Co., valuing the startup at $5.4 billion, according to an exchange filing in February by Info Edge India Ltd., an existing backer.

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