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Zomato To Consider Raising Funds Via QIP

Inc42 · 10m ago

Zomato To Consider Raising Funds Via QIP

Zomato plans to discuss fundraising through the issuance of equity shares via qualified institutional placement (QIP) during its board meeting on October 22. The foodtech company did not provide any details about the amount of funding it intends to consider. Additionally, the board will also review and approve the financials for the quarter ended September 2024 during the meeting.

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Livemint · 1y ago

MapmyIndia board gives nod to raise funds up to ₹500 crore via QIP route

The board of directors of MapmyIndia has approved the proposal for raising funds up to INR 500 crore ($67 million) through a qualified institutional placement (QIP) route. The funds will be raised via the issuance of equity shares, subject to necessary approvals. MapmyIndia is an Indian company and a competitor of Google Maps. It reported a net profit of INR 33 crore ($4.4 million) in the last quarter.

Zomato shares dip 5% amid fundraise plans via QIP

Economic Times

Economic Times · 10m ago

Zomato shares dip 5% amid fundraise plans via QIP

Shares of food delivery company Zomato fell by 5.4% to Rs 256 on the BSE after the announcement of a meeting to consider raising funds through the issuance of equity shares. Zomato reported a net profit of Rs 253 crore for Q1, a significant increase compared to the previous year. The company's revenue growth was driven by its quick-commerce vertical Blinkit and the business-to-business grocery supply unit Hyperpure. Zomato also launched a standalone app called District for its going-out business. Blinkit aims to have 2,000 dark stores by 2026.

Zomato raises $1B from domestic mutual funds through QIP

YourStory

YourStory · 9m ago

Zomato raises $1B from domestic mutual funds through QIP

Indian food delivery platform, Zomato, has secured $1 billion through qualified institutional placement (QIP), its first major fundraising since its IPO in 2021. The company has allotted around 21% of the QIP to various divisions of Motilal Oswal's mutual funds. This move is expected to shift ownership towards domestic investors and comes as Zomato faces competition in the quick commerce sector from players like Amazon and Flipkart. Meanwhile, Zomato's competitor, Zepto, has raised $1.35 billion in the last six months. The latest funding round of $350 million was led by Motilal Oswal's Private Wealth division.

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

The Arc Web

The Arc Web · 10m ago

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

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.

Zomato To Launch INR 8,500 Cr QIP In December

Inc42 · 9m ago

Zomato To Launch INR 8,500 Cr QIP In December

Food delivery company Zomato has chosen Morgan Stanley as its investment bank for its qualified institutional placement (QIP) fundraising. It may also bring on board one or two more investment banks for the same purpose. Zomato recently received board approval to raise up to INR 8,500 Cr (approximately $1 billion) through the QIP.

Bajaj Finserv-owned Bajaj Finance raises Rs 10,000 crore via QIP, preferential issue

IndianStartupNews

IndianStartupNews · 1y ago

Bajaj Finserv-owned Bajaj Finance raises Rs 10,000 crore via QIP, preferential issue

Bajaj Finance, a subsidiary of Bajaj Finserv, plans to raise Rs 10,000 crore through a combination of Qualified Institutions Placement (QIP) and Preferential Issue (PI). The company will raise up to Rs 8,800 crore through equity shares via QIP and an additional Rs 1,200 crore through a preferential issue of warrants. The funds will be used for business expansion and to strengthen the company's capital base. After the preferential issue, Bajaj Finserv's holding in Bajaj Finance will increase to 52.57%.

ETtech Deals Digest: Startups raise $2.13 billion in November, up 313% on-year

Economic Times

Economic Times · 9m ago

ETtech Deals Digest: Startups raise $2.13 billion in November, up 313% on-year

Startups raised a record-breaking $2.13 billion in funding during the month of November, a significant increase of 312.7% compared to the same period last year. The funding came through 87 rounds, surpassing the amount raised in October. The biggest deal was led by Zomato, which secured $1 billion through a qualified institutional placement (QIP) largely from domestic investors. Other notable funding rounds include Zepto raising an additional $350 million, Healthkart securing $153 million, and Nazara Technologies raising $100 million.

Adar Poonawalla plans $1 billion capital raise to expand NBFC operations

Business Today

Business Today · 3m ago

Adar Poonawalla plans $1 billion capital raise to expand NBFC operations

The Poonawalla Group is planning to raise $1 billion by the end of 2025 to expand its non-banking financial company, Poonawalla Fincorp. This capital is intended to be raised via a Qualified Institutional Placement (QIP) or by attracting a financial investor, with the funds being a primary infusion, meaning no secondary component is being contemplated.

Quick commerce’s burning brighter as players add more fuel

Economic Times

Economic Times · 10m ago

Quick commerce’s burning brighter as players add more fuel

Zomato's decision to raise fresh funds through a qualified institutional placement (QIP) has sparked concerns in the quick commerce sector. Some believe it's an attempt to divert attention from rival Swiggy's upcoming IPO, while others worry about the potential increase in cash burn and negative impact on unit economics. The quick commerce market is becoming increasingly competitive, with players like Zomato's Blinkit, Swiggy's Instamart, and Zepto diversifying into new categories. Zomato aims to raise $400-500 million through the QIP, potentially affecting Swiggy's IPO pricing. However, Zomato's strong track record and profitability may attract more interest in its fundraise.

Adani Enterprises in talks with Gulf-based sovereign funds to raise $2 billion through QIP: Report | Mint

Livemint

Livemint · 10m ago

Adani Enterprises in talks with Gulf-based sovereign funds to raise $2 billion through QIP: Report | Mint

- Adani Enterprises is in discussions to raise $2 billion through a qualified institutional placement (QIP) with investors including ADIA, QIA, and GQG. - The institutional share sale is expected to be launched by the end of October. - The funds raised through the QIP will be used for capital expenditure and to repay debt of the company and its subsidiaries. - Adani Energy Solutions raised nearly $1 billion through QIP, with participation from GQG, Blackrock, Nomura, ADIA, QIA, and domestic mutual funds. - Adani Group plans to raise ₹30,000-₹40,000 crore from retail investors through non-convertible debentures (NCD) to diversify funding sources.

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