Food delivery platform Zomato to acquire Blinkit. Blinkit is an instant grocery startup. The all-stock deal is for Rs 4,447 crore. A move by Zomato to exploit the quick grocery delivery market. Zomato will issue up to 629 million shares. This will be on a fully-diluted basis Each share will be priced at Rs 70.76. The shares are subject to a 12-month lock-in. Zomato also acquired HOTPL for $8 million. HOTPL is Blinkit’s warehousing and ancillary services business.
