Blink Commerce to be acquired by Zomato at INR 4447 crore deal

Zomato Ltd has announced the acquisition of Blink Commerce Pvt Ltd for Rs 4,447.48 crore in a share swap deal. Zomato has announced in a regulatory filing for an acquisition from the shareholders of upto 33,018 equity shares of Blink Commerce Pvt Ltd at a price of Rs 13.45 lakh per equity share for a total purchase consideration of Rs 4447.48 crore.
This transaction will be carried out by issuing and allocating up to 62.85 crore fully paid-up equity shares of Zomato, each with a face value of Re 1, at a cost of Rs 70.76 per equity share, the statement added.
According to the filing, the corporation already owns one equity share and 3,248 preference shares in BCPL. Zomato stated that the acquisition is in keeping with our objective of developing in the rapid commerce business. The Blinkit brand is used by Blink Commerce Pvt Ltd to operate the online rapid commerce business.