The board of directors of Zomato Ltd. will convene on October 22 to discuss two primary agenda items: the potential fundraising through a qualified institutional placement and the review of the financial results for the quarter ending September. They will also consider the approval for issuing equity shares, pending necessary regulatory and statutory approvals, as stated in an exchange filing on Thursday.
In addition to the fundraising discussions, the board will assess the company’s financial performance for the recent quarter and the half-year period. This meeting comes at a significant time for Zomato as it continues to navigate its growth and financial strategies.
Recently, Zomato’s quick commerce platform, Blinkit, announced the launch of a new easy returns feature, enhancing customer convenience. This feature allows customers to return or exchange items within just 10 minutes of making a request, particularly benefiting those shopping for clothing and footwear, which often face size and fit issues.
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Albinder Dhindsa, co-founder of Blinkit, emphasized the feature’s ability to ease size-related concerns for shoppers. After successful trials in the National Capital Region, the service has expanded to Mumbai, Bengaluru, Hyderabad, and Pune, with plans to reach additional cities soon.
On the stock market, Zomato shares closed down by 1.35% at Rs 270.55 on the NSE, in contrast to a 0.89% decline in the benchmark Nifty 50 index.
