Zomato believes it needs to enhance its cash balance given the competitive landscape, with rivals Swiggy and Zepto gearing up to stay in the competition.

Zomato raises ₹8,500 crore through QIP, shares trading at ₹280.95; funds to boost growth, technology, and acquisitions.

Zomato has raised INR 8,500 Cr via qualified institutional placement (QIP) of 33.64 Cr equity shares at an issue price of INR 252.62 apiece.

Zomato has successfully raised Rs 8,500 crore through a Qualified Institutional Placement (QIP), offering 33.65 crore equity shares at Rs 252.62 each. This issue price represents a 5% discount to the floor price of Rs 265.

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

By the end of FY25, Zepto also plans to run more than 700 dark stores, and Swiggy Instamart wants to increase the number of its dark stores

The online food delivery giant, Zomato Limited on Friday (November 29) through an exchange fling announced that it has successfully completed a Qualified Institutional Placement (QIP) of equity shares,

Zomato raised Rs 8,500 crore via QIP, allocating 33.65 crore shares. Funds will support Blinkit expansion, dark stores, and marketing. CEO Goyal waives salary until 2026.