India’s Zomato to raise $1B ahead of rival Swiggy IPO

Zomato announced Tuesday that its board has approved plans to raise $1 billion through a so-called qualified institutions placement, the company’s first major fundraise since its 2021 IPO, as competition in India’s quick commerce sector heats up. The timing is notable, coming just weeks before rival Swiggy’s anticipated public debut. The Bengaluru-based Swiggy, backed by […]
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