Deepinder Goyal, the CEO and cofounder of ZomatoZomato Datalabs_in-article-icon, will not be appearing in the next season of Shark Tank India because Swiggy, a rival of the foodtech giant, has requested Goyal’s removal as part of an agreement to sponsor the television program. Swiggy sponsored Shark Tank this time and kicked me out, so I’m afraid I can’t go back,” Goyal told Economic Times.
According to a different report by Moneycontrol, IPO-bound Swiggy has stated in the sponsorship deal that Goyal should not be on the TV show’s panel of judges. The Bengaluru-based food tech company is reportedly nearing an agreement to pay INR 25 Cr to sponsor Shark Tank India’s fourth season. In the meantime, Goyal stated, “I honestly don’t know, and we don’t even think about it,” in response to a query regarding Swiggy’s IPO. We’ll see what occurs.
Swiggy submitted its revised draft red herring prospectus (DRHP) for its initial public offering (IPO) to the Securities and Exchange Board of India (SEBI) on September 26. According to the draft document, the public offering will include an offer for sale (OFS) of 18.57 Cr shares and a new issue of shares valued at INR 3,750 Cr. The foodtech company did, however, get shareholder permission earlier this week to raise the size of the new issue in its initial public offering to INR 5,000 Cr.
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