Zomato. (Image: Shutterstock)
Zomato will acquire up to 33,018 equity shares of Blink Commerce
Food aggregator Zomato’s board on Friday approved the acquisition of quick commerce start-up Blinkit in an all-stock deal for a total purchase consideration of Rs 4,447 crore. The company will acquire up to 33,018 equity shares of Blink Commerce Pvt Ltd, according to a BSE filing.
“The board of directors of Zomato Limited…at its meeting held today i.e., June 24, 2022 inter-alia, has considered and approved the…acquisition of up to 33,018 equity shares of Blink Commerce Private Limited (formerly known as Grofers India Private Limited) for a total purchase consideration of Rs 444 7,4 7,84,078 at a price of Rs 13,46,986.01 per equity share by issuance and allotment of up to 62,85,30,012 fully paid-up equity shares of the company having a face value of Rs 1 each at a price of Rs 70.76 (Indian Rupees Seventy and Seventy Six Paisa Only) per equity share,” Zomato said in the BSE filing.
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Source: News18