On-line meals supply platform Zomato on Friday stated it’ll purchase Blink Commerce (previously often known as Grofers India) 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 acquisition of as much as 33,018 fairness shares of Blink Commerce 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 stated in a regulatory submitting.
This transaction might be carried out via 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 desire shares presently in BCPL, the submitting stated.
“This acquisition is consistent with our technique of investing within the fast commerce enterprise,” Zomato stated.
Blink Commerce runs the net fast commerce service beneath the Blinkit model.