Zomato grants $150 Mn loan to Blinkit amidst talks of potential merger
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Foodtech major Zomato has agreed to put in a $150 million loan to BlinkIt (formerly Grofers) as part of its future investment in quick commerce business. According to Zomato’s regulatory filings with the National Stock Exchange on Tuesday, the loan will be given to Grofers India Pvt Ltd (Blinkit’s Indian entity) at an interest rate of 12% a year for a tenure of not more than a year.