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.

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 had launched its Qualified Institutional Placement (QIP) issue on 25 November, which closed on 28 November

The Fund Raising Committee of Zomato's board approved the allotment of 33,64,73,755 (33.65 crore) shares to eligible qualified institutional buyers at an issue price of ₹252.62 apiece, aggregating to ₹8,500 crore

Zomato raises Rs 8,500 crore through QIP, led by domestic investors like Motilal Oswal and ICICI Prudential, to fuel expansion and growth.

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

Zomato raised Rs 8,500 crore through QIP by issuing and allotting 33 crore equity shares at an issue price of Rs 252.62 per share. The company's board approved this fundraising initiative, which was announced last month.

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