Zomato Secures USD 1 Bn via QIP, First Major Fundraise Since IPO Notable investors include ICICI Mutual Fund, which was allotted 4.25 crore shares, making up 12.78% of the issue. Other domestic mutual funds, including HDFC, received 1.97 crore shares, or 5.95%, while Kotak's funds were allotted 6% of the issue.
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Zomato has successfully raised USD 1 billion through a Qualified Institutional Placement (QIP), marking its first major fundraise since its 2021 IPO.
The company, led by Deepinder Goyal, allotted approximately 21% of the total QIP to various arms of Motilal Oswal's mutual funds.
This follows Motilal Oswal's leadership in a fundraise for quick commerce competitor Zepto. Zomato issued 33.64 crore equity shares at a price of INR 252.62 each, totaling INR 8,500 crore (around USD 1 billion).
Notable investors include ICICI Mutual Fund, which was allotted 4.25 crore shares, making up 12.78% of the issue. Other domestic mutual funds, including HDFC, received 1.97 crore shares, or 5.95%, while Kotak's funds were allotted 6% of the issue.
This fundraise is expected to alter Zomato's capitalisation table, giving greater ownership to domestic investors, a trend also seen with other players like Zepto, which raised USD 1.35 billion over the past six months.
This move comes amid intensifying competition in the quick commerce space, where Zomato faces challenges from established giants like Amazon and Flipkart.
