Deepinder Goyal, founder and CEO, Zomato, will not accept any salary till 31 March 2026. In fact, Goyal, who has a 4.18 per cent stake in the company, has not been drawing the base salary since 1 April 2021. His annual base salary amounts to Rs 3.5 crore.
In addition to his basic salary, the founder of the food-tech firm is eligible for a variable pay, depending on what the board of the firm decides, as well as statutory benefits. In case he gives up the role/job, he is entitled to a cash payment of Rs 1.75 crore within a month of leaving.
Zomato’s Rs 8,500 crore qualified institutional placement or QIP opened on 25 November, with the floor price being fixed at Rs 265.91 per share. Zomato may offer a rebate of up to five per cent on the same. The funds thus raised will be used to establish dark stores and warehouses for Blinkit. Plans are on to not only improve the network but also expand the same into new cities too. Some of the funds will also be used to increase advertising activities and further build the brand.
Over Rs 1,769 crores will be infused into Zomato’s cloud infrastructure and technology in line with the requirements of the business.
It is hoped that institutional investors from India, Europe and the US will participate in the QIP.
