<ul><li>Zomato's board will review and approve a proposal to raise INR 8,500 Cr at its meeting on October 22.</li><li>The company may seek approval from RBI to restrict foreign institutional investors' shareholding to 49%.</li><li>If approved, the proposal would enable Zomato to increase domestic shareholding above 50%.</li><li>The fundraising plan comes amid competition in the quick commerce market and Zomato's plans to scale its going out business.</li></ul>

Zomato To Seek Board Approval To Raise INR 8,500 Cr

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