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Zomato told the stock market that the capital raising committee of its board has approved the allotment of 33.65 crore shares to eligible institutional buyers at the issue price of Rs 252.62 per share.
Online food delivery service provider Zomato on Friday said it has raised Rs 8,500 crore by selling equity shares to qualified institutional investors to meet its growth objectives.
Zomato CEO Deepinder Goyal had earlier said that the purpose of the proposed plan to raise capital is to strengthen the company's balance sheet. The company's qualified institutional placement (QIP) issue opened on November 25 and closed on Thursday.
Zomato told the stock market that the capital raising committee of its board has approved the allotment of 33.65 crore shares to eligible institutional buyers at the issue price of Rs 252.62 per share. These shares were issued to investors at a five percent discount from the floor price. In this way a total of Rs 8,500 crore was raised.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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