We filed for QIP of $1 billion," Zomato said on Tuesday. Its board has approved the company's proposal, marking its first major fundraise since the IPO in 2021.

The deliberations come weeks ahead of Swiggy, Zomato's chief rival, making a public debut. The Bengaluru-headquartered Swiggy, backed by Prosus Ventures, SoftBank and Accel, aims to raise around $1.4 billion with the listing scheduled for next month.

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