Zomato approves opening of its Rs 8,500 crore QIP

New Delhi: Food delivery aggregator Zomato has approved and authorised the opening of its Rs 8,500 crore Qualified Institutional Placement (QIP), setting the floor price at Rs 265.91 per share.

Zomato CEO Deepinder Goyal had shared that the proposed fundraise is meant to strengthen its balance sheet.

In a regulatory filing on Monday, the food delivery platform said the Fund Raising Committee of the Board has approved and authorised the opening of

the issue.

“We further wish to inform you that the ‘relevant date’ for the purpose of the issue, in terms of Regulation 171(b)(i) of the SEBI ICDR (Issue of Capital and Disclosure Requirements) Regulations, is November 25, 2024...,” it said.