Meals supply aggregator Zomato has authorized and authorised the opening of its certified institutional placement (QIP), setting the ground worth at Rs 265.91 per share.
The corporate earlier said it plans to boost Rs 8,500 crore by way of the QIP providing.
Zomato CEO Deepinder Goyal had shared that the proposed fundraise is supposed to strengthen its stability sheet.
In a regulatory submitting on Monday, the meals supply platform mentioned the fundraising committee of the Board has authorized and authorised the opening of the problem.
“We additional want to inform you that the ‘related date’ for the aim of the problem, when it comes to Regulation 171(b)(i) of the SEBI ICDR (Challenge of Capital and Disclosure Necessities) Rules, is November 25, 2024…,” it mentioned.
Ground worth set at Rs 265.91 a share
Accordingly, the ground worth, primarily based on the pricing system as prescribed below Regulation 176(1) of the SEBI ICDR Rules is Rs 265.91 per fairness share, the submitting mentioned.
“Pursuant to Regulation 176(1) of a particular decision on November 22, 2024, by means of postal poll, the corporate might supply a reduction of no more than 5 per cent on the ground worth so calculated for the problem,” Zomato said.
The problem worth will probably be decided by the corporate in session with the book-running lead supervisor appointed for the problem, it added.
Zomato’s shares had been buying and selling at Rs 279.10 apiece on the BSE, up 2.01 per cent within the afternoon commerce.
