Zomato CEO Deepinder Goyal To Not Withdraw Salary Till FY26

Zomato CEO Deepinder has foregone his annual salary of ₹3.5 crore until the end of FY26. Previously, Goyal forewent his remuneration for a 36-month period lasting between FY21 to FY24. As per a letter dated on April 1, Goyal confirmed his willingness to extend the waiver until March 31, 2026.

However, he will continue his stint as the Managing Director and CEO of the company, for which he is eligible to receive variable pay. The board is also set to determine the exact amount in due course.

Goyal’s ownership in the company

Goyal owns over 4.18% of the company, which totals to ₹10,000 crore as of November 25. The shares of the company surged over 140% on year-to-date-basis, thereby trading at ₹277.35 today. Currently, market capitalisation of the company stands at ₹2.45 trillion.

Rally in Zomato shares

Following its approval of ₹8,500 crore Qualified Institutional Placement (QIP), Shares of Zomato increased past 6% on November 26.

With a floor price of ₹265.91 apiece for the QIP, the stock may be offered at a 5% discount after consultation with the bankers.

How are the funds going to be utlised?

₹2,137 crore ($250 million): Setting up dark stores and warehouses

₹ 2,492 crore: Advertising, marketing, and branding

₹1,769 crore: Technological upgrades and infrastructure

The remaining funds will be utlised to cover general corporate expenses.