On-line meals supply platform Zomato on Friday mentioned it’s 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 corporate’s board at a gathering held on Friday has permitted 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 mentioned in a regulatory submitting.
This transaction shall be carried out by means of 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 corporate already holds 1 fairness share and three,248 desire shares presently in BCPL, the submitting mentioned.
“This acquisition is according to our technique of investing within the fast commerce enterprise,” Zomato mentioned.
Blink Commerce runs the net fast commerce service underneath the Blinkit model.
