Zomato to consider fundraising ahead of smaller rival Swiggy's IPO

Zomato to consider fundraising ahead of smaller rival Swiggy's IPO

FILE PHOTO: A delivery worker of Zomato, an Indian food-delivery startup, waits to collect an order from a restaurant in New Delhi, India, May 21, 2020. REUTERS/Anushree Fadnavis/File Photo

Indian food delivery giant Zomato has announced that its board will consider raising funds via a qualified institutional placement (QIP) at a shareholder meeting on October 22, just weeks ahead of its rival Swiggy’s planned IPO on Indian bourses.

Edited by: Joymitra Rai