A qualified institutions placement (QIP) of equity shares by Zomato Limited raised Rs. 8,500 crore for the company on Friday. Last week, the foodtech company received shareholder approval for the fundraise.

There were 33,64,73,755 equity shares at Rs. 252.62 each, including a premium of Rs. 251.62. There is a 5% discount on the floor price of Rs. 265.91 per share, the company informed in its stock exchange filings.

Zomato's financial position is expected to be bolstered by this capital infusion, which is expected to facilitate business expansion and strategic initiatives, especially in the quick commerce space via Blinkit.

Zomato's Fund Raising Committee approved the offering, which opened on November 25 and closed on November 28, during its meeting held earlier today. The prominent mutual funds ICICI Prudential and Motilal Oswal were among the notable beneficiaries, acquiring a total of 6.92 crore shares, representing 20.81% of the issue size.

The paid-up equity share capital of Zomato has risen to Rs. 917.28 crore following the transaction.

A remarkable 68.5% quarter-on-quarter growth in operating revenue was achieved by Zomato for the fiscal year ending in, reaching Rs. 4,799 crores in the second quarter of FY25 from Rs. 2,848 crore in the second quarter of FY24. The company recorded a 4.8x increase in net profit to Rs. 176 crore in the September quarter.

According to a recent report, Blinkit, owned by Zomato, dominates the quick commerce market with a 46% share. There's a 29% market share for Zepto, and there's a 25% market share for Swiggy Instamart.