The online food delivery giant, Zomato Limited on Friday (November 29) through an exchange fling announced that it has successfully completed a Qualified Institutional Placement (QIP) of equity shares, raising Rs 8,500 crore.
The announcement came after the board of directors approved the allotment of 33.65 crore equity shares at Rs 252.62 per share, a price slightly below the determined floor price of Rs 265.91.
Key Details of the Fundraising
Size of the Issue – The online food delivery giant raised Rs 8,500 crore through the issuance of 33.65 crore equity shares.
Issue Price – The shares were issued at Rs 252.62 each, which included a premium of Rs 251.62. This price factored in a 5 per cent discount to the floor price.
Impact on Share Capital – With this allotment, Zomato’s paid-up equity share capital has increased to Rs 9,17,28,15,802, consisting of 917.28 crore equity shares.
Image used for representational purposes only |
Timeline – The QIP process opened on November 25, 2024, and closed on November 28, 2024.
Market Reaction: A Slight Dip in Zomato Shares
On the trading front, Zomato’s shares showed a mild decline following the announcement. As of 12:55 PM IST, the shares were trading at Rs 275.15, down by 3.84 per cent.
Share performance – NSE |
The stock opened at Rs 285.00, peaked at Rs 287.49 during the intraday trading session.
The market capitalisation of the company as of now stood at Rs 2.30LCr and the 52-week high and low of the company stood at Rs
298.25 and Rs 114.00 apiece, respectively.
