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Ant-Backed Zomato to Buy Blink Stake in $568 Million Deal

  • India’s Zomato to retain separate brand, app for Blinkit
  • Acquisition to help it expand in quick commerce, company says
A Zomato Ltd. delivery rider packs an order into a delivery bag in Mumbai.
A Zomato Ltd. delivery rider packs an order into a delivery bag in Mumbai.Photographer: Dhiraj Singh/Bloomberg
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India’s online food delivery platform Zomato Ltd. said it will acquire instant grocery delivery service company Blink Commerce Pvt. for 44.47 billion rupees ($568 million), in a bid to expand its business for quick deliveries of groceries and essentials.  

The Zomato board on Friday approved the issuance of up to 628.5 million fully paid-up equity shares worth 70.76 rupees each for the stake in the brand known as Blinkit, according to a statement issued by the company to the stock exchanges. Blink was formerly known as Grofers India Pvt.