Zomato Ltd has announced a new plan. The company told the exchange that it will raise funds through QIP i.e. qualified institutional placement. The company's stock fell 3.5 percent to close at Rs 256. As soon as the market closed, the company announced a new plan of Rs 8500 crore.

It raises funds from the domestic market through QIP i.e. qualified institutional placement. Approval from the market regulator i.e. SEBI is not required for QIP. For QIP, the company decides the share price as per the rules. The price of QIP cannot be less than the average price of the share for 2 weeks. (Dividend Stocks: Stock split announced with dividend of ₹23.19 - one share will be divided into two parts) Zomato share performance -  The share has fallen 8 percent in a week. It has fallen 11 percent in a month. The share has increased 126 percent in a year.