Zomato Raises Rs 8,500 Cr Via QIP

New Delhi: Food delivery aggregator Zomato has raised Rs 8,500 crore by selling equity shares to qualified institutional investors, mainly domestic mutual fund houses, to fund its expansion and growth plans.

Zomato, which also owns quick-commerce firm Blinkit, had launched its Qualified Institutional Placement (QIP) issue on November 25, which closed on Thursday. In a regulatory filing on Friday, Zomato informed that it has raised Rs 8,500 crore through a Qualified Institutional Placement (QIP) issue. This is the first major fundraise since the company got listed on the stock exchanges in July 2021.

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 Rs 252.62 apiece, aggregating to Rs 8,500 crore. These shares were allotted to investors at 5 per cent discount from the floor price, which was fixed at Rs 265.91 per share. Four domestic mutual fund houses -- ICICI Prudential, Motilal Oswal, HDFC and Kotak -- were allotted over 5 per cent of the equity shares offered in the QIP issue.