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

Online meals supply platform Zomato on Friday stated it is going to purchase Blink Commerce (previously often called Grofers India) for a complete buy consideration of Rs 4,447.48 crore in a share swap deal.
The firm’s board at a gathering held on Friday has authorized 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 worth of Rs 13.45 lakh per fairness share, Zomato stated in a regulatory submitting.

This transaction might be carried out via 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 worth of Rs 70.76 per fairness share, it added.

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

“This acquisition is in line with our strategy of investing in the quick commerce business,” Zomato stated.

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