Food delivery and quick commerce leader Zomato may launch QIP (Qualified Institutional Placement) worth $1 billion. According to media reports, the company has already started working on its proposed QIP. For this it has appointed Morgan Stanley as an investment bank partner. In fact, the company through this offer is Rs. 8,500 crore is sought to be raised. This QIP can be launched on 1st December. Zomato Can Launch 1 Billion Dollar Qip
What is Zomato's share price?
On the last trading day, Zomato shares closed with a gain of over 4 percent. Share price of Zomato is Rs 269.66. However, there was a decline in the last few days. The stock has lost more than 3 percent in the last one month. It has given more than 118 percent profit in one year. Shares in one year Rs. 112.50 as the initial public offering low and Rs. reached a high of 298.25.
Recently Zomato's competitor Swiggy also launched an IPO.
Recently, Zomato's rival Swiggy launched an IPO worth Rs 11,327 crore. Market wise Swiggy's listing was good. The listing of the company's shares rose 7.69 percent. Its IPO price was Rs 390 while its listing price was Rs 420. After which this share reached a high of Rs 489.49. But later it saw a decline and it fell to Rs 391 but later recovery was seen.
What does Zomato do?
Zomato is an Indian food delivery website, launched in 2008. Initially Zomato was launched with FoodieBay. But in 2010 the name of the company was changed to Zomato. Apart from food delivery, Zomate offers many other types of information on the website. Like list of restaurants near you, food and restaurant rating etc.
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