Zomato Opens Rs 8,500 Cr QIP Offering

New Delhi: Food delivery aggregator Zomato has approved and authorised the opening of its Qualified Institutional Placement (QIP), setting the floor price at Rs 265.91 per share. The company earlier stated it plans to raise Rs 8,500 crore via the QIP offering.

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

In a regulatory filing on Monday, the food delivery platform said the Fund Raising Committee of the Board has approved and authorised the opening of the issue.