On the internet food stuff shipping and delivery system Zomato on Friday said it will receive Blink Commerce (previously regarded as Grofers India) for a whole invest in thing to consider of Rs 4,447.48 crore in a share swap offer.
The firm’s board at a conference held on Friday has authorised acquisition of up to 33,018 equity shares of Blink Commerce from its shareholders for a whole acquire thing to consider of Rs 4,447.48 crore at a selling price of Rs 13.45 lakh for each fairness share, Zomato explained in a regulatory filing.
This transaction will be carried out by way of issuance and allotment of up to 62.85 crore totally paid out-up equity shares of Zomato, having experience price of Re 1 each and every at a price of Rs 70.76 for each equity share, it included.
The business currently holds 1 equity share and 3,248 desire shares presently in BCPL, the filing mentioned.
“This acquisition is in line with our tactic of investing in the brief commerce business,” Zomato reported.
Blink Commerce runs the on the web fast commerce company under the Blinkit brand.