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Which company to acquire Blinkit for Rs 4,447 crore in all-stock deal?

Correct Answer : Option (A) - Zomato

Online food delivery platform Zomato on Friday announced the acquisition of Blinkit, which was earlier known as Grofers, in an all-stock deal of Rs 4,447 crore.
Zomato said it would acquire up to 33,018 equity shares of Blink Commerce Pvt Ltd from its shareholders for a total purchase consideration of Rs 4,447.48 crore at a price of Rs 13.45 lakh per equity share. The decision was taken at a board meeting today. “This acquisition is in line with our strategy of investing in the quick commerce business,”
Zomato said, adding that the transaction would be carried out through issuance and allotment of up to 62.85 crore fully paid-up equity shares of Zomato, having face value of Re 1 each at a price of Rs 70.76 per equity share. Zomato already holds one equity share and 3,248 preference shares, presently in the online quick commerce startup.
Zomato said it would also buy the warehousing and ancillary services business from Blinkit's parent company Grofers International for Rs 60.7 crore..

Source : India Times

Published On : June 26, 2022
Category : Business and Economics