Zomato raises ₹8,500 crore via Qualified Institutional Placement at ₹252.62 per share

Food transportation aggregator Zomato has raised ₹8,500 crore by selling equity shares to qualified organization investors. File | Photo Credit: Reuters

Food transportation aggregator Zomato has raised ₹8,500 crore by selling equity shares to qualified organization investors, chiefly home communal money houses, to money its enlargement and maturation plans.

Zomato, which besides owns quick-commerce steadfast Blinkit, had launched its Qualified Institutional Placement (QIP) contented connected November 25, which closed connected Thursday.

In a regulatory filing connected Friday, Zomato informed that it has raised ₹8,500 crore done a Qualified Institutional Placement (QIP) issue. This is the archetypal large fundraise since the institution got listed connected the banal exchanges successful July 2021.

The Fund Raising Committee of Zomato's committee approved the allotment of 33,64,73,755 (33.65 crore) shares to eligible qualified organization buyers astatine an contented terms of ₹252.62 apiece, aggregating to ₹8,500 crore.

These shares were allotted to investors astatine 5% discount from the level price, which was fixed astatine ₹265.91 per share.

Four home communal money houses — ICICI Prudential, Motilal Oswal, HDFC and Kotak — were allotted implicit 5% of the equity shares offered successful the QIP issue.

Motilal Oswal emerged arsenic the biggest subordinate picking up 21% stock of the allocation by investing astir ₹1,750 crore.

Recently, Zomato CEO Deepinder Goyal had said that the projected fundraise is meant to fortify its equilibrium sheet.

The funds raised done the QIP contented volition beryllium utilized for the maturation and enlargement plans of Zomato arsenic good arsenic its speedy commerce concern Blinkit.

Zomato has 4 businesses astatine contiguous including nutrient delivery, quick-commerce (Blinkit), business-to-business (B2B) proviso limb Hyperpure and District, a level for users to publication dining, movies, unrecorded performances, sports events, shopping, and staycations.

As per the latest shareholding pattern, nationalist shareholding stood astatine 98.73% successful Zomato. The company's Founder and CEO Deepinder Goyal holds 4.18% arsenic helium is listed among nationalist shareholders.

Zomato has a marketplace headdress of astir ₹2.47 lakh crore. The company's shares closed astatine ₹279.50 apiece connected Friday, down 2.31% from their erstwhile adjacent connected the BSE.

Published - November 30, 2024 02:40 americium IST