Online food delivery platform Zomato on Friday said it will acquire Blink Commerce (earlier known as Grofers India) in a share swap deal for a total of Rs 4,447.48 crore.
Zomato said in a regulatory filing, the company’s board in a meeting held on Friday has approved the acquisition of 33,018 equity shares of Blink Commerce from its shareholders for a total purchase of Rs 4,447.48 crore at a price of Rs 13.45 lakh per equity share. . ,
The transaction will be done through issue and allotment of fully paid-up equity shares of the company up to Rs.62.85 crore. zomatoIt has a face value of Re 1 at a price of Rs 70.76 per equity share, it added.
The company already holds 1 equity share and 3,248 preference shares in BCPL, filing Told,
Zomato said, “This acquisition is in line with our strategy to invest in the Quick Commerce business.
Runs an instant commerce service online under Blink Commerce blinkit brand.