Zomato has secured US$1 billion through a qualified institutional placement (QIP), marking its first major fundraising since its IPO in 2021.

The company issued roughly 336.5 million shares at 252.62 rupees (US$2.99) each, as noted in a stock exchange filing on Friday.

The QIP opened on November 25 and closed on November 28, attracting significant interest from domestic mutual funds.

This move reclassifies Zomato as a “domestic” company by reducing foreign ownership below 50%.

This change allows its quick-commerce subsidiary, Blinkit, to use an inventory-led model, which is limited to domestically owned firms.

Recent Zomato developments