Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Food delivery co. Zomato raises Rs.8,500-Cr via QIP
Publicly-listed food and grocery delivery firm Zomato has raised INR 8,500 crore (around USD 1 Billion) through qualified institutional placement (QIP), to expand its quick commerce business Blinkit and support other growth initiatives. From the total proceeds, INR 2,137 crore will be spent on setting up and running operations of dark stores and warehouses, and INR 2,492 crore towards advertising, marketing and branding initiatives across its businesses.The company has allocated about 33.64 crore equity shares, with a face value of INR 1 each at an issue price of INR 252.62 per share. The pricing represents a discount of 5% to the QIP floor price of INR 265.91 a share.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.