Zomato has announced plans to raise $1 billion through a qualified institutions placement, marking its first significant fundraising since its 2021 IPO. This move comes shortly before rival Swiggy's anticipated IPO, which aims to raise $1.4 billion. Analysts view Zomato's decision as unexpected given its current $1.2 billion cash reserve. The new capital will help Zomato shift towards a majority domestic ownership, allowing its quick commerce unit, Blinkit, to adopt an inventory model. Co-founder Deepinder Goyal emphasized the need for additional capital to compete effectively in a rapidly evolving market.