Recently, Zomato had announced the acquisition of BlinkIt for ₹4,447.48 crore in a share swap deal as part of its strategy to invest in quick commerce business.
Taking to Twitter, the Shark Tanks India judge said,”On the stock market- @letsblinkit served piping hot misery to @zomato in 10 minutes ! Yeh hi agar
@Swiggy mko merge kar liya hota to ₹450 ka stock hota !!”.
The shares of Zomato continued to plummet day after it hit a record low on Monday after the expiration of mandatory lock-in period. As per figures at 12.50 pm, each share of Zomato was being sold at ₹43.35 on the Bombay Stock Exchange.
On Monday, the stocks tanked 11.37 per cent to settle at ₹47.55 apiece on the BSE. During the day, it tumbled 14.25 per cent to its all-time low of ₹46. On the NSE, shares of the company ended at ₹47.60 apiece, lower by 11.27 per cent.
Recently, Zomato had announced the acquisition of BlinkIt for ₹4,447.48 crore in a share swap deal as part of its strategy to invest in quick commerce business. The company’s board at a meeting approved the acquisition of up to 33,018 equity shares of Blink Commerce Pvt Ltd from its shareholders for a total purchase consideration of ₹4,447.48 crore at a price of ₹13.45 lakh per equity share, Zomato said in a regulatory filing.
In March, Grover resigned as managing director of his Fintech firm BharatPe. This after his wife Madhuri Jain Grover was fired from her position.