Shares of Zomato Ltd fell by over 6 per cent on Monday after announcement that online food delivery platform will acquire Blink Commerce Pvt Ltd (formerly known as Grofers) for Rs 4,447.48 crore. The stock declined 6.40 per cent to settle at Rs 65.85 on BSE. During day, it fell 7.53 per cent to Rs 65.05. At NSE, it went lower by 6.59 per cent to settle at Rs 65.85 apiece.
Zomato Ltd on Friday said it will acquire Blink Commerce Pvt Ltd for Rs 4,447.48 crore in a share swap deal as part of its strategy of investing in quick commerce business. The company's board at a meeting held on Friday approved acquisition of up to 33,018 equity shares of Blink Commerce Pvt Ltd from its shareholders for a total purchase consideration of Rs 4,447.48 crore at a price of Rs 13.45 lakh per equity share.