<ul><li>Zomato has received board approval to raise INR 8,500 Cr via qualified institutional placement (QIP).</li><li>The fund raising committee will decide the structure, form of issuance, price, and terms and conditions of the QIP.</li><li>Zomato aims to enhance its cash balance in order to compete with rivals in the foodtech industry.</li><li>The company plans to strengthen its balance sheet and has no immediate plans for acquisitions or minority investments.</li></ul>

Zomato Gets Board Nod To Raise INR 8,500 Cr Via QIP

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