Zomato on Friday said that it has successfully raised Rs 8,500 crore through a qualified institutions placement (QIP) of equity shares. The funding initiative, which received shareholder approval last week, involved the issuance of 33,64,73,755 equity shares for Rs 252.62 each, including a premium of Rs 251.62 per share. This price reflects a 5 per cent discount from the floor price of Rs 265.91 per share.
The capital infusion is expected to enhance Zomato’s financial strength, enabling expansion and strategic investments, particularly in the fast-growing quick commerce sector through Blinkit. The QIP offering, which opened on November 25 and closed on November 28, also saw significant participation from prominent mutual funds, including ICICI Prudential and Motilal Oswal. Motilal Oswal alone acquired 6.92 crore shares, making up 20.81% of the total issue size.
Following the transaction, Zomato's paid-up equity share capital has increased to Rs 917.28 crore.
For the second quarter of FY25, Zomato reported a robust 68.5% growth in operating revenue, rising to Rs 4,799 crore compared to Rs 2,848 crore in Q2 FY24. The company also saw a 4.8x jump in net profit, reaching Rs 176 crore in the September quarter.
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