Food delivery major Zomato on Friday announced that it had raised ₹8,500 crore ($1 billion) through a qualified institution placement (QIP) in its first major fundraise since public listing in July 2021.
The company's Board, in a meeting held on November 29, approved the issue and allotment of 336,473,755 equity shares at an issue price of ₹252.62 per share.
The fundraise is aimed at strengthening Zomato's balance sheet and fuelling its expansion plans, as competition is heating up in the quick commerce and food delivery space. As much as ₹2,137 crore will be used to expand Blinkit's network of dark stores and warehouses.
هذه القصة مأخوذة من طبعة November 30, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة November 30, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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Now boarding
Governance premium is set to go up by many notches and banks will be put through the wringer, reports RAGHU MOHAN
