Zomato has held discussions to acquire Blinkit, in a share-swap deal. This comes on the back of Zomato investing $100 million in the Gurgaon-based quick-commerce startup last year, picking up an about 10% stake.
While the contours of the deal are being finalized, it is expected that shareholders of Zomato would get 10 Blinkit shares for each held in their company. That would value Blinkit at around $700-800 million, based on Zomato’s current market finances. Zomato would grant a loan of up to $150 million to Blinkit’s Indian entity. Interest will be charged at 12% annually, with a tenure of not more than a year.
