- Friday, November 29, 2024
CEO Deepinder Goyal had earlier shared that the proposed fundraise is meant to strengthen the company’s balance sheet
By: Shajil Kumar
FOOD delivery aggregator Zomato on Friday said it has raised ₹85 billion (£792.68m) by selling equity shares to qualified institutional investors to fund its growth objectives.
Zomato CEO Deepinder Goyal had earlier shared that the proposed fundraise is meant to strengthen its balance sheet.
The company opened its Qualified Institutional Placement (QIP) issue on November 25, which closed on Thursday.
In a regulatory filing, the company informed that the Fund Raising Committee of its Board approved the allotment of around 336 million shares to eligible qualified institutional buyers at an issue price of ₹252.62 apiece, aggregating to ₹85 billion.
These shares were allotted to investors at 5 per cent discount from the floor price, which was fixed at ₹265.91 per share.
Zomato shares were trading at ₹280.15 apiece at 1426 hrs on Friday, down 2.08 per cent.
Sensex inclusion
The online food delivery firm is also set to become a part of the BSE benchmark Sensex from December 23, by replacing JSW Steel.
This is part of the latest reconstitution announced by Asia Index Private Ltd, a subsidiary of BSE.
Zomato’s inclusion in the 30-stock index marks a significant milestone for the company, which has seen an impressive rally over the past year. (PTI)
