Zomato allots nearly 20 lakh equity shares in ESOPs ahead of Q2 results

Foodtech major Zomato on Tuesday allotted 19.66 lakh equity shares under various employee stock option plans just hours before it released its second quarter financials, it said in an exchange filing.

The company allotted 6.49 lakh shares under ESOP plan 2018, another 3.12 lakh shares under ESOP plan 2021 and 10.04 lakh equity shares under ESOP plan 2022.

"All equity shares of the Company allotted pursuant to exercise of stock options shall rank pari-passu with the existing equity shares of the Company," it said in an exchange filing made with BSE.

Based on the opening price of Rs 267 apiece, the company allotted shares worth Rs 52.51 crore.

Shares of the company were trading 4.06% lower at Rs 254.9 apiece on NSE at 3 PM.

The Deepinder Goyal-led company is set to announce its second-quarter results early this year as competition in the space heats up. Swiggy is gearing up to make its public debut soon.

Zomato will also table a Board decision on the company's plans to raise capital through qualified institutional placement. QIPs are a way for publicly listed companies to raise capital by selling shares exclusively to institutional investors like mutual funds, insurance companies, or banks.