Zomato allots 47.75 crore shares under multiple ESOP schemes

Food delivery and quick commerce giant Zomato on Monday approved the allotment of 47.75 crore equity shares under multiple ESOP schemes to Foodie Bay Employees ESOP Trust, an employee welfare trust set up by the company.

Following the allotment, the share capital of the company will increase from Rs 917.28 crore to 965.03 crore, according to an exchange filing by the company.

The allotment was done under the Zomato Employee Stock Option Plan 2018, Zomato Employee Stock Option Plan 2021, Zomato Employee Stock Option Plan 2022, and Zomato Employee Stock Option Plan 2024.

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What Zomato investors need to watch out for after the Rs 8,500 Cr QIP

Last week, Zomato approved the issue and allotment of 33.64 crore equity shares at an issue price of Rs 252.62 apiece, to raise Rs 8,500 crore (almost $1 billion).

The allotment was led by domestic mutual funds, with 21% of the qualified institutional placement (QIP) allotted to various arms of Motilal Oswal's mutual funds.

ICICI Mutual Fund, through various funds, was allotted 12.78% of the issue, while HDFC mutual fund and Kotak was allotted 5.95% and 6% of the issue, respectively.

The fundraise was done to strengthen the company's balance sheet following Zomato's all-cash acquisition of Paytm's ticketing business.

The QIP will also bring about a change in the company's cap table, allowing more ownership to domestic investors as FDI regulations in the sector come into scrutiny.

A day ago, Zomato also notified the exchanges regarding additional fundraise in Byondnxt Smart Home. Zomato, which did not participate in the latest round, saw its stake in the company being reduced to 6% on a fully diluted basis from about 8% at the time of its investment.