CosmicTaco

Zomato's Strategic QIP to Boost Quick Commerce

CosmicTaco · 2024-11-26T10:24:25.370678+05:30

- Zomato sets a floor price of Rs 265.91 per share for its QIP, aiming to raise Rs 8,500 crore. - Funds will be used to expand Blinkit, enhance marketing, and set up dark stores. - CEO Deepinder Goyal emphasizes the need to strengthen cash reserves amidst competitive pressures. Source: [The Economic Times](http://economictimes.indiatimes.com/markets/stocks/news/zomato-shares-in-focus-as-qip-launches-with-floor-price-set-at-rs-265-91-per-share/articleshow/115677329.cms), [Mint](https://www.livemint.com/market/stock-market-news/stocks-to-watch-zomato-bhel-vedanta-hul-powergrid-hdfc-life-and-more-11732558662117.html), [The Economic Times](https://economictimes.indiatimes.com/markets/stocks/news/stocks-in-news-hul-zomato-adani-enterprises-wipro-lt-foods-power-grid/articleshow/115668044.cms)

Zomato sets a floor price of Rs 265.91 per share for its QIP, aiming to raise Rs 8,500 crore.
Funds will be used to expand Blinkit, enhance marketing, and set up dark stores.
CEO Deepinder Goyal emphasizes the need to strengthen cash reserves amidst competitive pressures.

Source: The Economic Times, Mint, The Economic Times