Zomato is planning a capital raise as it seeks to outpace Swiggy, which is gearing up for an IPO. Zomato aims to strengthen its financial position and expand operations, potentially securing an edge over Swiggy.
Both companies are aggressively competing in India’s food delivery market, and Zomato’s move highlights its ambition to solidify its standing. This capital raise is critical for Zomato to continue scaling and improve its market share in the face of increasing competition.