The company also approved a fundraise of up to Rs 8,500 crore through a qualified institutional placement to boost its cash reserves, following its recent acquisition of movie and event ticketing businesses from a digital payments firm.
Zomato has raised its platform fee from Rs 7 to Rs 10 just in time for the festive season. The company explained via an app notification that the hike is aimed at sustaining services during this busy period. “This fee helps us keep Zomato running. To maintain services during the festive season, it has increased slightly,” the message read.
Source: bt Business Today
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