Zomato raises Rs 8500 crore through QIP to fuel expansion of its business

Zomato has raised ₹8,500 crore through a share sale to institutional investors, which largely comprised domestic mutual fund houses.

Proceeds from the issue, which closed on Friday, will be used to fund the expansion plans of Zomato and quick commerce business Blinkit.

Zomato launched the qualified institutional placement issue on November 25. This is the first major fundraise after it was listed in July 2021.