Zota Health Care Limited has raised Rs 350 crores from a group of marquee investors through a Qualified Institutional Placement (QIP) issue.

The company has allotted 22, 80,130 equity shares to eligible Qualified Institutional Buyers (QIBs), including foreign portfolio investors, alternative investment funds, and mutual funds, at an issue price of Rs. 1,535 per equity share.

Investors who participated in the issue include Valiant Partners, 360 ONE, Prashant Jain-led 3P Investment Managers, White Oak Capital, Sanshi Fund-I and Turnaround Opportunities Fund, among others.

Commenting on successful fundraise, Ketankumar Zota, Chairman, Zota Health Care Limited said, the continued support from institutional investors reflected confidence in the company’s long-term strategy and business model. “We are grateful for the trust and support shown by our investors. It is particularly encouraging to see several existing investors participate in the QIP, reaffirming their belief in our vision and growth plans. The proceeds from the QIP will be used primarily to accelerate the nationwide expansion of the Company-Owned Company-Operated (COCO) stores of Davaindia nationwide, working capital requirements and general corporate purposes. The company aims to open more than 5,000 Davaindia stores with the blend of COCO and Franchisee-Owned Franchisee-Operated (FOFO) stores across India by March 2029, supported by the fresh capital raised through QIP and cash flows from its mature store network.”