Zomato likely to raise ₹8,500 crore through share sale: Report

Zomato is likely to raise funds worth ₹8,500 crore through a Qualified Institutional Placement (QIP), CNBC-TV18 reported. The company informed on Thursday that its board will meet on October 22 to consider the QIP. Post the share sale, Zomato will also apply to the RBI to cap its foreign institutional investment (FII) holding at 49%, the report added.