Zomato stated in an NSE filing that company intended to raise further funds by selling new equity shares through a Qualified Institutions Placement (QIP). Through the exclusive sale of shares to institutional investors such as banks, insurance firms, and mutual funds, publicly traded corporations can raise cash through QIPs.
A board meeting to address the fund-raiser is scheduled for October 22, 2024, according to the meal delivery unicorn. The business will also make available its unaudited financial statements for the quarter and half-year that concludes on September 30, 2024.
The intentions to launch fresh coincide with Swiggy, Zomato’s main competition, getting ready for a big initial public offering (IPO). SEBI has given Swiggy permission to increase its funding from around Rs 10,414 crore to Rs 11,664 crore.
Zomato IPO Details
The Zomato IPO is a Rs 9,375.00 crore book-built offering. The issuance consists of an offer to sell Rs 375.00 crores and a new issue of Rs 9,000.00 crores. Starting on July 14, 2021, and ending on July 16, 2021, was the Zomato IPO bidding period. This Thursday, July 22, 2021, was the final day of the allocation for the Zomato IPO. On July 23, 2021, the shares were listed on the BSE and NSE. The pricing range for Zomato’s IPO is ₹72–₹76 per share. 195 Shares is the minimum lot size required for an application. Retail investors are required to invest a minimum of ₹14,820.
About the Company – Zomato
Zomato is a technological platform that serves the various needs of customers, restaurant partners, and delivery partners by connecting them. While dining out, patrons utilize this platform to find and search for restaurants, order meal delivery, reserve a table, read and write reviews left by other patrons, and upload and browse images.
However, they also give restaurant partners industry-specific marketing tools that help businesses attract and grow customers in addition to offering a dependable and effective last-mile delivery service. Additionally, they run Hyperpure, a one-stop shop for procurement that provides restaurant partners with premium foods and kitchenware. Additionally, they provide delivery partners clear and flexible income options.
