Zomato to Acquire Blink Commerce for Rs 4,447 Crore

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Zomato to Acquire Blink Commerce for Rs 4,447 Crore
25 Jun 2022
5 min read

News Synopsis

Zomato, an online grocery delivery platform, announced the acquisition of Blinkit on Friday, formerly known as Grofers, for a full-stock transaction of Rs 4,447 crore.

Zomato has announced that it will acquire up to 33,018 shares of Blink Commerce Pvt Ltd from shareholders at a total purchase price of Rs 4,447.48 crore at a price of Rs 13.45 lakh per share. The decision was made at a board meeting by today's board of directors.

Zomato added that the transaction will be conducted through the issuance and allocation of up to 62.85 crore fully paid-in shares of Zomato at a price of Rs.70.76 per share, each with a  face value of Re 1. Zomato is currently an online quick commerce startup that already owns one common stock and 3,248 preference shares.

Zomato also said it will acquire Blinkit's parent company Grofers International warehousing and ancillary services business for Rs 60.7 crore.

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