Zomato to acquire Blink Commerce is Rs. 4447 cr

Zomato To acquire Blink Commerce

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Online food delivery platform Zomato on Friday said it will acquire Blink Commerce (Formaly known as Grofers India) for a purchase consideration of Rs. 4,447.48 Crore in a share swap deal investing in quick commerce business.

The Company Board Meeting held on Friday has approved the acquisition of up to 33,018 equity shares of Blink Commerce Pvt Ltd from its shareholders for the total purchase consideration of Rs.4,447.48 crore at a price of Rs. 13.45 Lakh per equity share , Zomato said in in a regulatory filling.

This transaction will be carried out though issuance and allotment of up to 62.85 crore fully paid equity shares of Zomato, having face value of Re 1 each at a price of Rs 70.76 per equity share ,it added. This acquisition is in line with our strategy of investing in quick commerce business ,ā€¯Zomato said.

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