Zomato raised Rs 8500 crore through QIP in order to expand its operations.
These shares were distributed to investors at a 5 per cent reduction to the undermost price, which was fixed at ₹ 265.91 per share.ICICI Prudential, Motilal Oswal, HDFC, and Kotak, four domestic collaborative fund houses, distributed further than 5 of the equity shares offered in the QIP issue.
Zomato has raised ₹ 8,500 crore through share trade to institutional investors, mainly comprising domestic collaborative fund houses. The proceeds from the issue, which closed on Friday, will be used to fund the expansion plans of Zomato and quick commerce business Blinkit.
Zomato said its fund raising commission has approved the allotment of( 33.65 crore) shares to eligible good institutional buyers at an issue price of ₹ 252.62 per share, adding up to ₹ 8,500 crore.
These shares were distributed to investors at a 5 per cent reduction to the undermost price, which was fixed at ₹ 265.91 per share.More than 5 of the equity shares offered in the QIP issue were distributed by four domestic collaborative fund houses ICICI Prudential, Motilal Oswal, HDFC, and Kotak. Motilal Oswal surfaced as the largest party, securing a 21 per cent share of the allotment by investing about ₹ 1,750 crore.
Zomato CEO Deepinder Goyal had said the proposed fundraise would strengthen its balance distance. previous to its original public immolation( IPO) before this month, rival Swiggy raised Rs 5,085 crore from anchor investors.
