Zomato raises Rs 85 billion through QIP

Zomato raised Rs 85 billion through a qualified institutional placement (QIP). The issue comprised 336.5 million shares at Rs 252.62 per share. The proceeds from the raise will be utilised to expand the quick commerce segment and advertising and marketing. Further, the company announced that Rs 21.37 billion will be allocated to setting up and running dark stores and warehouses.