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Economic Times
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Zomato to raise Rs 8,500 crore via QIP to fight quick commerce competition
- Zomato's board approves plan to raise Rs 8,500 crore via QIP
- Zomato aims to enhance cash position to compete in the current competitive climate
- Zomato wants to be on a level playing field with competitors who are raising additional capital
- Zomato's cash balance declined to Rs 10,813 crore as of September 30 due to acquisition
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