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Zomato Board to Consider Fundraising Via QIP on October 22; Shares Down 3.75%

Zomato says its board will consider and approve the "raising of funds by issuance of equity shares by way of qualified institutional 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, as may be required".

Food delivery platform Zomato on Thursday said its board will consider fundraising through qualified institutional placement (QIP) on October 22. In a regulatory filing, the company informed that a meeting of the board of directors is scheduled to be held on Tuesday, October 22, 2024. The board, Zomato stated, will consider and approve the “raising of funds by issuance of equity shares by way of qualified institutional 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, as may be required”.

Zomato also said its board will approve the second quarter results on October 22. Shares of Zomato on Wednesday were trading down by Rs 10.10 or 3.

75 per cent to Rs 260.5 apiece on the BSE..