Zomato raises Rs 8,500 crore via QIP at Rs 252.62/share; Should you Buy, Sell or Hold this recent entrant in F&O segment

Food delivery giant Zomato has successfully raised Rs 8,500 crore through a Qualified Institutional Placement (QIP), issuing 33.65 crore equity shares at Rs 252.62 per share.

The issue price reflected a 5% discount to the floor price of Rs 265.91 and marked the company’s first major fundraising effort since its initial public offering (IPO) in July 2021. The QIP, approved by Zomato’s board Fund Raising Committee, closed on November 28, 2024, following strong interest from qualified institutional buyers.