Zomato doubles down on instant grocery delivery with $568m Blinkit acquisition

Photo: Zomato

The board of Zomato on Friday approved the acquisition of quick commerce company Blinkit for Rs4,447 crore ($568 million) in an all-stock deal, giving the food delivery giant the requisite weapon to make a mark in India’s hot quick commerce segment.

Zomato’s board has approved the acquisition of up to 33,018 equity shares of the company from its shareholders at a price of 13.45 lakh per equity share, according to a statement.

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