Shares of the online food delivery platform Zomato Ltd declined by over 6% on Monday after the announcement that it will acquire quick commerce company Blink Commerce Pvt Ltd (Blinkit) for Rs4,447.48 crore.
This transaction will be carried out through issuance and allotment of up to 62.85 crore fully paid-up equity shares of Zomato, having face value of Re 1 each at a price of Rs 70.76 per equity share, it added.