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Zomato launches QIP; sets floor price at Rs 265.91 per share
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Zomato has set a floor price of Rs 265.91 per share for its qualified institutional placement (QIP), which it opened on Monday, the company said in a filing to the stock exchanges.
The floor price for the QIP, through which Zomato is planning to raise up to Rs 8,500 crore, is at a nearly 3% discount to Zomato’s Monday closing price of Rs 273.60 on the BSE.
On Saturday, Zomato’s shareholders had approved the QIP plan.
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