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Tuesday, October 22, 2024

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Zomato ventures into kitchen appliances, secures 8% stake in Byondnxt

E-Commerce
Online food ordering company Zomato has decided to buy 8% share(s) in kitchen appliance manufacturer Byondnxt. As per an exchange filing, Zomato informed that its board has sanctioned the subscription of 600 equity shares of Byondnxt...

Zomato receives board approval to secure INR 8,500 cr via QIP

Growth
Foodtech giant Zomato has secured board approval to raise up to INR 8,500 Cr (approximately $1 billion) through a qualified institutional placement (QIP). According to INC42, the foodtech major revealed its board has created a fundraising committee...

Zomato’s net profit drops 30% to INR 176 Cr in Q2 FY25

Growth
Zomato’s consolidated net profit dropped by 30% to INR 176 Cr in the September quarter of FY25, down from INR 253 Cr in the...

Zomato allots shares worth INR 53 Cr under ESOPs ahead of Q2 earnings

E-Commerce
Zomato granted nearly 20 lakh equity shares to eligible employees under various employee stock option plans (ESOPs), ahead of its Q2 FY25 earnings announcement...

Karnataka govt to impose 1-2% fee on app based services like Swiggy, Zomato, Amazon 

E-Commerce
Govt. to levy as per Gig Workers (Social Security and Welfare) Bill The Karnataka government plans to charge a 1-2% fee on aggregator platforms like...

Zomato CEO Deepinder Goyal Ventures Into Health and Wellness with ‘Continue’

E-Commerce
Zomato co-founder and group CEO Deepinder Goyal has started ‘Continue’, a venture focused on health tracking and mental wellness for longevity. Deepinder Goyal as director...

AICPDF files complaint against Quick Commerce firms for alleged below-cost pricing

Retail & Ecommerce
The All India Consumer Products Distributors Federation (AICPDF), representing 400,000 retail distributors of companies like Nestle and Hindustan Unilever, has asked the antitrust authority...

Karnataka govt to impose 1-2% fee on app based services like Swiggy, Zomato, Amazon 

E-Commerce
The Karnataka government plans to charge a 1-2% fee on aggregator platforms like Swiggy, Zomato, Flipkart, Amazon, and Uber. A government source said an...

Zomato shares dip 5.4% as board considers INR 8,500 Cr fundraising through QIP

E-Commerce
Zomato’s shares dropped by 5.4% to INR 256 on the Bombay Stock Exchange (BSE) today (October 18), following the company's announcement that its board...

Zomato eyes fresh fundraise of INR 8,500 Cr, first since 2021 IPO

E-Commerce
Zomato's board is expected to review and approve a proposal to raise INR 8,500 crore (about $1 billion) at their October 22 meeting. This...

Zomato eyes fresh capital through QIP

E-Commerce
Food delivery platform, Zomato announced on Thursday, October 17, that its board will consider raising funds by issuing equity shares through qualified institutional placement...

As competition heats up in quick commerce, Blinkit scraps ‘zero notice period’ policy

E-Commerce
As competition heats up in the quick commerce sector and the fight for talent becomes increasingly fierce, Zomato-owned Blinkit has reportedly updated its employment...

Zomato set to relaunch logistics service ‘Xtreme’ with revised strategy

Food & Beverage
Months after discontinuing its logistics service 'Xtreme' due to weak demand, foodtech giant Zomato is now reportedly set to overhaul the offering and launch...

Zomato’s independent director Gunjan Soni resigns from board

Leadership
Foodtech giant Zomato's independent director Gunjan Soni has stepped down from the company's board due to "increased work commitments." In͏͏ a͏͏ BSE͏͏ filing,͏͏ the͏͏ company͏͏...
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