Indian food delivery app Zomato has raised $1 billion from institutional investors, completing its first major fundraise since its 2021 IPO. The food Weeks following rival Swiggy's listing, Zomato has raised $1 billion in its first major fundraise since its 2021 IPO.

Zomato has raised INR 8,500 Cr via qualified institutional placement (QIP) of 33.64 Cr equity shares at an issue price of INR 252.62 apiece.

Zomato believes it needs to enhance its cash balance given the competitive landscape, with rivals Swiggy and Zepto gearing up to stay in the competition.

Zomato has successfully raised Rs 8,500 crore through a Qualified Institutional Placement (QIP), offering 33.65 crore equity shares at Rs 252.62 each. This issue price represents a 5% discount to the floor price of Rs 265.

Zomato raises ₹8,500 crore through QIP, shares trading at ₹280.95; funds to boost growth, technology, and acquisitions.

Zomato raises Rs 8,500 crore through QIP, led by domestic investors like Motilal Oswal and ICICI Prudential, to fuel expansion and growth.

Zomato raised Rs 8,500 crore through QIP by issuing and allotting 33 crore equity shares at an issue price of Rs 252.62 per share. The company's board approved this fundraising initiative, which was announced last month.

Zomato has announced the closure of Qualified Institutional Placement (QIP). The online food delivery company said that it raised Rs 8,500 crore through QIP. It allotted as many as 33.65 crore shares at a floor price of Rs 252.