Shares of online food delivery firm Zomato climbed nearly 4 per cent on Monday, December 23. The stock jumped 3.58 per cent to settle at Rs 273.60 on the BSE. During the day, it soared 7.62 per cent to Rs 284.

Zomato has opened its INR 8,500 Cr QIP and set a floor price of INR 265.91 per equity share, a discount of 2.8% from its closing price today

Zomato aims to raise Rs 8,500 crore through the QIP issue. The fundraise comes at as its key rival Swiggy has now become a publicly listed company.

Gurugram-based Zomato had announced the plan to raise fresh capital last month, at a time when the rapidly growing quick commerce industry is becoming increasingly competitive and witnessing a flush of funds being infused into the sector.

Shares of Zomato ended at ₹272.90 on the BSE, up 3.3% on Monday on the back of two triggers — the company's inclusion in the 30-stock BSE Sensex and an approval for its ₹8,500 crore Qualified Institutional Placement (QIP).

Zomato's shareholders have approved the company's proposal to raise Rs 8,500 crore through a qualified institutional placement (QIP), receiving 99.7% support. The funds aim to strengthen its balance sheet amid rising competition.

Zomato had announced the plan to raise fresh capital last month - at a time when the rapidly growing quick commerce industry is becoming increasingly competitive and witnessing a flush of funds being infused into the sector.

Last month, the Zomato board approved raising up to ₹8,500 crore through a qualified institutions placement (QIP). The fundraising is meant to strengthen the balance sheet at th