Zomato shares jumped more than 7 per cent after share holders nodded to QIP (Qualified institutional placement), of Rs 8,500 crore. Zomato also will be included in BSE's Sensex replacing JSW steel in the index.
The zomato shares surged to day high level of Rs 283.90 per share on the NSE (National Stock Exchange), after hitting the opening bell at Rs 273.25 per share on the indian bourses.
The zomato shares were trading around Rs 282.41 per share on the Indian Exchanges, with a surge of 6.89 per cent amounting to Rs 18.21 per share on the stock exchanges.
QIP approved by the shareholders
The resolution was approved by more than 99.7 per cent of the voting shareholders. At a time when the quickly expanding quick commerce industry is becoming more competitive and seeing a flood of funds entered the market, the Gurgaon-based company had last month announced its intention to raise additional capital.
Zomato's cash balance
Due to the company's decision to pay Rs 2,048 crore to acquire Paytm's events and ticketing business, Zomato's cash balance as of September 30 was Rs 10,813 crore, less than the Rs 12,539 crore as of June 30.
BSE announced changes in several indices
Changes in several indices, including the BSE Sensex, BSE 100, BSE Sensex 50, and BSE Sensex Next 50, were announced on Friday by BSE's subsidiary Asia Index Private Ltd.
The inclusion of Zomato in the benchmark 30-stock BSE Sensex demonstrates the company's increasing market share in India.
Their average six-month float-adjusted market capitalization determines which companies are added to and removed from the index. Across important industries, the index includes 30 financially stable companies that function as both a benchmark and an investable index.
