Food delivery major Zomato raises Rs 8.5K cr via QIP, expansion on menu

Food delivery major Zomato on Friday announced that it had raised Rs 8,500 crore ($1 billion) through a qualified institution placement (QIP) in its first major fundraise since public listing in July 2021.

The company’s Board, in a meeting held on November 29, approved the issue and allotment of 336,473,755 equity shares at an issue price of Rs 252.62 per share.