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Home App Zomato to Acquire Blinkit's Blink Commerce in Rs. 4,447 Crore Deal

Zomato to Acquire Blinkit’s Blink Commerce in Rs. 4,447 Crore Deal

On-line meals supply platform Zomato on Friday mentioned it’s going to purchase Blink Commerce (previously referred to as Grofers India) for a complete buy consideration of Rs 4,447.48 crore in a share swap deal.
The corporate’s board at a gathering held on Friday has permitted acquisition of as much as 33,018 fairness shares of Blink Commerce from its shareholders for a complete buy consideration of Rs 4,447.48 crore at a value of Rs 13.45 lakh per fairness share, Zomato mentioned in a regulatory submitting.

This transaction will probably be carried out by way of issuance and allotment of as much as 62.85 crore totally paid-up fairness shares of Zomato, having face worth of Re 1 every at a value of Rs 70.76 per fairness share, it added.

The corporate already holds 1 fairness share and three,248 choice shares presently in BCPL, the submitting said.

“This acquisition is in step with our technique of investing within the fast commerce enterprise,” Zomato mentioned.

Blink Commerce runs the web fast commerce service below the Blinkit model.

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