CosmicTaco

Zomato Plans $1 Billion QIP Launch in December

CosmicTaco · 2024-11-15T12:09:01.753245+05:30

* Zomato Ltd, the food delivery giant, is planning a $1 billion Qualified Institutional Placement (QIP) in December, with Morgan Stanley as the investment bank. * The move comes after rival Swiggy's successful IPO, and aims to strengthen Zomato's balance sheet, with no plans for minority investments or acquisitions. * Zomato's stock has appreciated almost 118% this year, despite being down 9.6% from its 52-week high. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/zomato-targets-december-launch-for-1-billion-qip-ropes-in-morgan-stanley-12867685.html)

Zomato Ltd, the food delivery giant, is planning a $1 billion Qualified Institutional Placement (QIP) in December, with Morgan Stanley as the investment bank.
The move comes after rival Swiggy's successful IPO, and aims to strengthen Zomato's balance sheet, with no plans for minority investments or acquisitions.
Zomato's stock has appreciated almost 118% this year, despite being down 9.6% from its 52-week high.

Source: Moneycontrol

8mo ago

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