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

The online food delivery giant, Zomato Limited on Friday (November 29) through an exchange fling announced that it has successfully completed a Qualified Institutional Placement (QIP) of equity shares, raising Rs 8,500 crore.

Zomato has closed its Rs 8,500 crore qualified institutional placement (QIP) mainly from domestic investors. This and more in today’s ETtech Top 5.Also in the letter:■ Australia's social media ban■ Trump win boosts IT stocks■ India expands EV incentivesZomato raises Rs 8,

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.

Food delivery aggregator Zomato has raised Rs 8,500 crore by selling equity shares to qualified institutional investors, mainly domestic mutual fund houses, to fund its expansion and growth plans

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 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.