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New Delhi: Shares of Zomato Ltd fell for the next straight working day on Tuesday, tumbling in excess of 8 for each cent amid issues around the firm’s proposed acquisition of Blink Commerce Pvt Ltd (previously recognised as Grofers) for Rs 4,447.48 crore.

The stock dived 8.35 per cent to settle at Rs 60.35 on the BSE. During the day, it fell 9.18 for every cent to Rs 59.80.

At the NSE, it fell 8.04 for each cent to settle at Rs 60.55 apiece.

Shares of Zomato had fallen by in excess of 6 for each cent on Monday also.

In two days, the firm’s current market valuation has fallen by Rs 7,861.49 crore to Rs 47,517.51 crore on the BSE.
Zomato Ltd on Friday stated it will obtain Blink Commerce Pvt Ltd for Rs 4,447.48 crore in a share swap offer as part of its strategy of investing in quick commerce organization.

Blink Commerce Pvt Ltd operates the online brief commerce company underneath the Blinkit brand. It was previously acknowledged as Grofers.

The transaction will be carried out by way of issuance and allotment of up to 62.85 crore thoroughly compensated-up fairness shares of Zomato getting face value of Re 1 every at a value of Rs 70.76 for every equity share on a preferential foundation, it additional.

