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

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 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.

Food delivery giant Zomato has successfully raised Rs 8,500 crore through a Qualified Institutional Placement (QIP), issuing 33.65 crore equity shares at Rs 252.62 per share. The issue price reflected a 5% discount to the floor price of Rs 265.