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Informative

Zomato Gets Board Nod To Raise INR 8,500 Cr Via QIP

Update / Judgement Date

22 Oct 2024

Source

Inc42

Author

Team — WCP Legal Desk

Reading Time

1 min read

Financial ManagementMerger & AcquisitionStock Market

Zomato's board approved a plan to raise INR 8,500 crore through a Qualified Institutional Placement (QIP). The funds will be used for business expansion, including potential mergers and acquisitions, and to strengthen its balance sheet. The move aligns with the company’s growth strategy to enhance its market presence and improve operational efficiencies.