Online meals supply platform Zomato Ltd on Friday stated it should purchase Blink Commerce Pvt Ltd (previously generally known as Grofers India Pvt Ltd) 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 accepted acquisition of as much as 33,018 fairness shares of Blink Commerce Pvt Ltd 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 stated in a regulatory submitting.
This transaction will likely be carried out by 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 firm already holds 1 fairness share and three,248 desire shares presently in BCPL, the submitting stated.
“This acquisition is in line with our strategy of investing in the quick commerce business,” Zomato stated.
Blink Commerce Pvt Ltd runs the web fast commerce service below the Blinkit model.
