Zomato raises Rs 8,500 crore through QIP to supercharge growth plans

Food delivery aggregator Zomato on Friday said it has raised Rs 8,500 crore by selling equity shares to qualified institutional investors to fund its growth objectives.

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

The company opened its Qualified Institutional Placement (QIP) issue on November 25, which closed on Thursday.