Indian food delivery major Zomato has received shareholder approval to raise about $101 million (Rs 8,500 crore) through a qualified institutional placement (QIP), according to the company’s latest filings with the National Stock Exchange (NSE).
The company has reportedly hired investment bank Morgan Stanley to initiate the process.
Zomato’s fundraising plans come at a time when both domestic and global investors are closely watching India’s quick commerce market, dominated by players like Zepto, Swiggy’s Instamart, and Zomato’s Blinkit.
Swiggy recently made its stock market debut following a $1.4-billion IPO earlier this month. The company’s shares were listed at a premium, 8% above the ₹390 IPO price. Meanwhile, Zepto has raised more than $1.35 billion in back-to-back funding rounds this year alone. It’s latest fundraise of $350 million was led by Motilal Oswal’s private wealth division.
Zomato went public on the Indian stock exchanges in 2021 at Rs 116 per share. The company’s scrip was trading up 5.93% at Rs 279.87 on Monday morning.
The company reported a net profit of Rs 176 crore ($21 million) for the September quarter (Q2 2025)—4.8 times the Rs 36 crore reported a year ago but 30% down from the Rs 253 crore reported in the June quarter.
Revenue from operations of the Gurugram-based company increased 69% to Rs 4,799 crore ($570 million) in the three-month period.