Zomato bags Rs 8,500 crore via QIP, Motilal Oswal puts in Rs 1,700 crore
Zomato has closed its qualified institutional placement (QIP) to raise ₹8,500 crore, the company said in a filing to the stock exchanges on Friday.
The shares were priced at ₹252.62 which is at a nearly 12% discount to Zomato's Thursday closing price of ₹286.10 on the BSE.
The issue which opened on November 25 saw participation from a clutch of domestic investors like Motilal Oswal, ICICI Prudential, HDFC Mutual Fund, Kotak among others. Motilal Oswal emerged as the biggest participant picking up a significant 21% share of the allocation by pumping around ₹1,751 crore. ICICI Prudential invested ₹1,074 crore while HDFC MF bought shares worth about ₹730 crore.
On November 22, ET reported that quick commerce firm Zepto raised an additional $350 million in funding led by Motilal Oswal's private wealth division, while Raamdeo Agrawal of Motilal Oswal Financial Services invested in Bengaluru-based Swiggy.
The fundraise, which is Zomato's first such exercise since its initial public offering (IPO) in July 2021, comes at a time when its rivals have raised significant amounts of capital. Swiggy, raised ₹4,499 crore in primary capital through its IPO earlier this month, while Zepto has raised over $1.3 billion over the last four to five months.
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