Zomato to raise ₹8,500 cr via QIP as it braces for intensifying competition

The board of Zomato has approved a proposal to raise ₹8,500 crore via a qualified institutional placement (QIP) of shares to help the food and grocery delivery company take on competition from rival players like IPO-ready Swiggy and Zepto.

The Gurugram-based company’s cash balance fell to ₹10,800 crore in the September quarter of FY25 from ₹14,400 crore when it launched an initial public offering (IPO) in 2021, mainly on account of funding past quick-commerce losses and some equity investments and acquisitions.