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Jun 24, 2022 · Zomato will issue up to 629 million shares to Blinkit, a quick commerce platform, at an allotment price of ₹70.76 per share. The deal is expected to close by September 2022, subject to regulatory approvals and other conditions.
- Joseph Rai
Jun 27, 2022 · Zomato's Rs 4,447 crore acquisition of Blinkit, a quick-commerce marketplace, may dilute its share price in the short term but widen its scope of hyper local delivery services. Analysts say the deal will raise Ebitda loss, extend profitability and face intense competition in the space.
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Jun 24, 2022 · Zomato announced an all-stock deal to buy Blinkit, formerly Grofers, in a bid to expand its quick commerce business. The deal involves issuing and allotting up to 62.85 crore Zomato shares at Rs 70.76 each.
Apr 26, 2024 · The investment bank estimates Blinkit’s implied value at 119 Indian rupees per share ($1.43) or about $13 billion, while Zomato’s food delivery business is valued at Rs 98 per share.
Feb 23, 2024 · Zomato acquired Blinkit in June 2022 to enter the grocery space after two failed attempts. The startup, formerly known as Grofers, has grown rapidly and is now competing with Swiggy in quick commerce.
Aug 4, 2022 · Can Zomato ever return to IPO level? Mahantesh Sabarad answers. Read Also: Zomato was never about growth at any cost; we managed to explain Blinkit deal to market. But for all of this, you will also need the support of the gig workers. You are educating their children, you come out with various plans for them as well.
May 19, 2023 · While Blinkits total number of orders jumped 25% to 39.2 million quarter-on-quarter, its average order value dropped yet again to Rs 522, down from Rs 553 in the quarter ending December 31, 2022.
