Zomato raises ₹8,500 crore via QIP
Mint Mumbai|November 30, 2024
A big part of the proceeds is to be used to expand Zomato's quick commerce arm Blinkit
Sowmya Ramasubramanian

Food and grocery delivery player Zomato has raised ₹8,500 crore through a qualified institutional placement (QIP), allocating 33.64 crore shares at ₹252.62 apiece, it said in a filing with the stock exchanges on Friday.

The price includes a discount of ₹13.29 per share, which is 5% of the floor price of ₹265.91. The issue opened on 25 November and closed on 28 November. Motilal Oswal, ICICI Prudential, and HDFC Mutual Fund were among the entities that were allotted more than 5% of the shares offered in the issue.

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