The food delivery giant Zomato is all set to acquire instant-grocery company Blinkit for 4,447 Cr.
Blinkit was earlier known as ‘Grofers.’
Zomato, which already owns 9 percent of Blinkit, is now acquiring 33,018 equity shares of Blink Commerce Pvt Ltd. The all-stock deal will offer the shareholders of Blinkit over 6 percent of Zomato.
The deal will very likely aim at sharing resources such as delivery executives and respective client bases.
Blinkit’s CEO, Albinder Dhindsa, will continue in his role.
Zomato has registered losses of over 1,200 Cr in FY 2022.