zomato-completes-8-500-cr-fundraise-through-qip

Food delivery aggregator Zomato announced on Friday that it has raised ₹8,500 crore by selling equity shares to qualified institutional investors to support its growth objectives.

 

Zomato CEO Deepinder Goyal had previously stated that the proposed fundraising would strengthen the company's balance sheet.

 

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

 

In a regulatory filing, Zomato informed that its Fund Raising Committee had approved the allotment of 33,64,73,755 (33.65 crore) shares to eligible institutional buyers at an issue price of ₹252.62 per share, raising a total of ₹8,500 crore.

 

These shares were allotted at a 5 per cent discount from the floor price, which was set at ₹265.91 per share.

 

At 1426 hrs on Friday, Zomato shares were trading at ₹280.15 each, down by 2.08 per cent.