Zomato Limited (NSEI:ZOMATO)?s board of directors will consider raising funds through a qualified institutions placement (QIP) on October 22, the company said in a regulatory filing on Oct. 17 2024. However, the company did not disclose the quantum of funding it is looking to raise.
??this is to inform that a meeting of the board of directors of the company is scheduled to be held on Tuesday, October 22, 2024, inter-alia, to consider and approve raising of funds by issuance of equity shares by way of qualified institutions placement, as may be permitted under applicable laws, subject to such regulatory/statutory approvals, including the notice for the postal ballot for obtaining the shareholders? approval in this regard,? the filing stated.
If approved, this will be the first fundraise by the food delivery giant since its stock market debut three years ago.
