CosmicTaco

Zomato Raises $1B in QIP, Boosting Domestic Shareholding

CosmicTaco · 2024-11-29T11:20:48.654747+05:30

* Zomato has raised $1B through a QIP, primarily from domestic investors, boosting its domestic shareholding above 50%. * The funds will be used for expanding its network of dark stores and warehouses, advertising and branding, and technology payments. * The raise strategically shifts Zomato’s status to a “domestic” company, allowing its quick-commerce unit Blinkit to adopt an inventory-led model. Source: [The Arc](https://thearcweb.com/article/zomato-qip-domestic-motilal-oswal-icici-prudential-zepto-swiggy-blinkit-U9nyjS3dxLVqWdG5)

Zomato has raised $1B through a QIP, primarily from domestic investors, boosting its domestic shareholding above 50%.
The funds will be used for expanding its network of dark stores and warehouses, advertising and branding, and technology payments.
The raise strategically shifts Zomato’s status to a “domestic” company, allowing its quick-commerce unit Blinkit to adopt an inventory-led model.

Source: The Arc