Zomato establishes payments subsidiary Zomato Payments

Gurgaon-based food delivery brand Zomato on Wednesday announced that it has incorporated a wholly-owned subsidiary by the name of Zomato Payments Pvt Ltd.The incorporation has been done to carry the business of providing payment aggregator services and payment gateway services under the Reserve Bank of India (RBI) rules and regulations, said the food delivery platform in a regulatory filing.

"Zomato   Pvt Ltd (ZPPL) is incorporated with an initial subscription of 10,000 equity shares of Rs 10 each aggregating to Rs one lakh only," it added.Shares of Zomato Ltd closed at Rs 138.30 per scrip on BSE, down 0.79 per cent from its previous close.

Earlier, in July Zomato raised its Rs 8250 crore through initial public offerings.