India’s Zomato to raise $1B ahead of rival Swiggy IPO

Quick Summary:

Zomato said on Tuesday its board had approved the company’s proposal to raise $1 billion through a so-called qualified institutions placement, its first major fundraise since its IPO in 2021.

The deliberations for the funding comes weeks before Swiggy, Zomato’s chief rival, makes its public debut.

He is reachable on manish(at)techcrunch(dot)com.

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Article Details

Author / Journalist: Manish Singh

Category: Technology

Markets: United StatesIndia

Topics: Zomato Swiggy Fundraising Blinkit Zepto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 10:08:45 (6 days ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 126 words

Reading Time: 1 minutes read

Sentences: 19 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23198524

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