Zomato raises ₹8,500 crore via QIP at ₹252.62 per share to bulk up cash reserves

Bengaluru: Food and grocery delivery player Zomato has raised ₹8,500 crore through its qualified institutional placement (QIP), allocating 33.64 crore shares at ₹252.62 apiece, it said in a filing with the stock exchanges on Friday.

The price includes a discount of ₹13.29 per share, which is 5% of the floor price of ₹265.91. The issue opened on 25 November and closed on 28 November.