Zomato opens Rs 8,500 crore QIP offering, sets floor price at Rs 265.91 per share

Food delivery aggregator Zomato has approved and authorised the opening of its qualified institutional placement (QIP), setting the floor price at Rs 265.91 per share.

The company earlier stated it plans to raise Rs 8,500 crore via the QIP offering.

Zomato CEO Deepinder Goyal had shared that the proposed fundraise is meant to strengthen its balance sheet.