Zomato said on Tuesday its board had approved the company's proposal to raise $1 billion through a so-called qualified institutions placement, its first

Shares of food-delivery giant Zomato dived on Friday’s early trade, going down by over 3%, after the company announced plans to raise funds through a qualified institutional placement. What Happened: Zomato’s board of directors will meet on October 22 to approve the firm’s quarterly financial results,

Food delivery platform Zomato on Thursday said its board will consider fundraising through qualified institutional placement (QIP) on October 22.

The food and grocery delivery major will put up the proposal to the board on October 22, on which day it will also declare its financial results for the July-September quarter.