Happy Tuesday! Zomato opened its much-talked about qualified institutional placement which expects to rack up Rs 8,500 crore as the quick commerce battle intensifies. This and more in today's ETtech Morning Dispatch.

The foodtech company has fixed the floor price for the QIP at ₹265.91 per share, a discount of 2.8% from Monday’s closing price.

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

Catch live action of Zomato stock here. Zomato will become a part of the benchmark BSE Sensex, replacing JSW Steel from December 23. Zomato’s board on November 23, 2024, approved proposal to raise capital by way of QIP.

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.

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 has posted impressive stock price gains, with the company’s shares rallying 41% in the last six months and over 128% year-to-date (YTD). This growth has been driven by steady expansion in its core food delivery business and strong demand in its quick commerce division,

Zomato’s shares surged 7% early trading today, following its inclusion in the prestigious 30-stock Sensex index; Know latest target price

Shares of online food delivery firm Zomato climbed nearly 4% on Monday following news that it will become a part of the BSE benchmark Sensex from December 23.