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Zomato Plans To Raise $1 Bln Via Qualified Institutional Placement Of Shares
Zomato Plans To Raise $1 Bln Via Qualified Institutional Placement Of Shares
Indian online food delivery company’s board approves raising up to 8,500 crore rupees through the issuance of shares
Staff Reporter |
22 October 2024 | 04:55 PM
(The Corner Office Journal) -- Indian online food delivery company Zomato Ltd. plans to raise as much as 8,500 crore rupees ($1 billion) through qualified institutional placement of shares.
The company’s board today (22 October) approved raising up to 8,500 crore rupees by issuing equity shares through qualified institutional placement, Zomato said in a stock exchange announcement.
The board also constituted and authorized its fundraising committee to decide on the structure, price and terms of the proposed issuance.
The fundraising will be subject to shareholders and regulatory approvals.
Note: $1 = 84.0810 Indian rupees
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