Zomato Plans $1 Billion QIP Launch in December

• Zomato Ltd, the food delivery giant, is planning a $1 billion Qualified Institutional Placement (QIP) in December, with Morgan Stanley as the investment bank.
• The move comes after rival Swiggy's successful IPO, and aims to strengthen Zomato's balance sheet, with no plans for minority investments or acquisitions.
• Zomato's stock has appreciated almost 118% this year, despite being down 9.6% from its 52-week high.

Source: Moneycontrol