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Zomato on Friday mentioned it is going to purchase Blink Commerce Pvt Ltd (previously generally known as Grofers India Pvt Ltd).
Highlights
- The corporate’s board at a gathering held on Friday has authorised acquisition
- The corporate already holds 1 fairness share and three,248 choice shares presently in BCPL
- This transaction can be carried out by way of issuance and allotment of as much as 62.85 crore
On-line meals supply platform Zomato Ltd on Friday mentioned it is going to purchase Blink Commerce Pvt Ltd (previously generally known as Grofers India Pvt Ltd) for a complete buy consideration of Rs 4,447.48 crore in a share swap deal.
The corporate’s board at a gathering held on Friday has authorised the acquisition of as much as 33,018 fairness shares of Blink Commerce Pvt Ltd from its shareholders for a complete buy consideration of Rs 4,447.48 crore at a worth of Rs 13.45 lakh per fairness share, Zomato mentioned in a regulatory submitting.
This transaction can be carried out by way of issuance and allotment of as much as 62.85 crore absolutely paid-up fairness shares of Zomato, having face worth of Re 1 every at a worth of Rs 70.76 per fairness share, it added.
The corporate already holds 1 fairness share and three,248 choice shares presently in BCPL, the submitting mentioned. “This acquisition is in step with our technique of investing within the fast commerce enterprise,” Zomato mentioned. Blink Commerce Pvt Ltd runs the web fast commerce service beneath the Blinkit model.
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