Zomato share falls after it announces Blinkit acquisition for Rs 4,447 Crore
Shortpedia
Content Team
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Shares of food aggregator Zomato tumbled sharply on Monday after the company's Board of Directors approved a proposal to acquire a cash-strapped quick commerce company Blinkit for Rs 4,447 crore. The proposed acquisition will be an all-stock deal. Last year, Zomato extended $50 million loans to Grofers India Private Limited, which has now been renamed as Blink Commerce.
