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Zomato has Secured Rs 8,500 Cr through a QIP

The raised funds will strengthen Zomato’s financial position and support its business growth and strategic plans. The offering, which ran from November 25 to November 28, was approved by Zomato’s Fund Raising Committee.

By Ayushi Jain
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Zomato has Secured Rs 8,500 Ce through a QIP

Zomato Limited has raised ₹8,500 crore by selling equity shares through a Qualified Institutions Placement (QIP), after getting approval from shareholders last week.

The company issued 33.65 crore shares at ₹252.62 each, including a premium of ₹251.62 per share. This price is 5% lower than the set floor price of ₹265.91 per share, according to its stock exchange filings.

Read also - WadzPay Secured SGD $50 Mn in form of Share Subscription Facility

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The raised funds will strengthen Zomato’s financial position and support its business growth and strategic plans.

The offering, which ran from November 25 to November 28, was approved by Zomato’s Fund Raising Committee. Major mutual funds, including ICICI Prudential and Motilal Oswal, were key investors. Motilal Oswal bought 6.92 crore shares, making up 20.81% of the total offering.

About Zomato

Zomato’s mission is "better food for more people." Since starting in 2010, the company has grown significantly and became one of India’s most trusted brands during the pandemic, while also becoming one of the largest hyperlocal delivery networks in the country.

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