Zomato to buy Blinkit for Rs 4.5k cr in all-stock deal

Food delivery giant Zomato's board on Friday approved the acquisition of instant grocery startup Blinkit, formerly known as Grofers, for Rs 4,447 crore in an all-stock deal. The deal value, however, is nearly 40% lower than Blinkit's $1-billion valuation last year, when it turned unicorn by raising $120 million from Zomato and Tiger Global. The transaction is expected to close by August.

from Times of India https://ift.tt/Wq795ZV
https://ift.tt/z0sntES June 25, 2022 at 03:51AM

Comments

Post a Comment

Popular posts from this blog

Covid live: Record 50,000+ infections on Sunday

Daily Covid-19 cases in India went past 50,000 for the first time on Sunday even as the total caseload crossed 14 lakh, capping the deadliest week of the pandemic so far, when total cases grew by 28% and the death toll jumped by 19%. Stay with TOI for the latest developments from Times of India https://ift.tt/30N2irD https://ift.tt/eA8V8J July 27, 2020 at 05:07AM
Read more

Impact of pandemic? Women jobseekers fell by 34% in 2021

Not only have more women lost jobs compared to men during the pandemic, but also fewer women are returning to work. The number of women actively looking for work each month reduced by three million between 2019 and 2021, says the latest bulletin from Centre for Monitoring Indian Economy (CMIE) and Centre for Economic Data and Analysis (CEDA). from Times of India https://ift.tt/stuvPLiFk https://bit.ly/3GblJNq January 30, 2022 at 02:05AM
Read more

SC slams trial courts for seeking needless custody

The Supreme Court on Tuesday expressed shock over some trial courts not complying with its July 2022 order to be liberal and grant bail to accused in cases when custody is not needed. Asking the courts not to pass detention orders in a routine and mechanical way and thus deny liberty to the accused, the SC said such judges needed to be sent to academies for “upgrading their knowledge”. from Times of India https://ift.tt/3rS94xi https://ift.tt/tkHgMLh March 22, 2023 at 12:55AM AMIT ANAND CHOUDHARY
Read more