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Zomato plots capital raise to one-up IPO-ready Swiggy | The Arc

The Arc Web · 8m

Zomato is considering raising capital through a Qualified Institutional Placement (QIP) to counter Swiggy’s upcoming IPO, which is expected to raise $450-$600 million. Zomato, with a market capitalization of ₹239,000 crore, has made acquisitions and investments, including Paytm's ticketing business, while maintaining profitability. The capital raise, though not immediately necessary, is viewed as a strategic move to outmaneuver Swiggy’s growth plans. Swiggy's IPO could value it at $12-$15 billion, less than half of Zomato's market cap.