Zomato to acquire Blinkit for Rs 4,447 cr

New Delhi, June 24

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Online food delivery platform Zomato Ltd on Friday said it will acquire Blink Commerce Pvt Ltd (formerly known as Grofers) for Rs 4,447.48 crore in a share-swap deal as part of its strategy of investing in quick commerce business.

The company’s Board at a meeting held on Friday has approved the acquisition of 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, Zomato said in a regulatory filing.

Deal dynamics

• Zomato will acquire Blink Commerce (formerly Grofers) in a share-swap deal
• It will purchase up to 33,018 equity shares of Blink Commerce from its shareholders at a price of Rs 13.45 lakh per equity share

Blink Commerce Pvt Ltd runs the online quick commerce service under the Blinkit brand. It was formerly known as Grofers.

This transaction will 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 on a preferential basis, it added.