Zomato trades higher on getting nod to acquire stake in Adonmo, UrbanPiper Technology
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Zomato is currently trading at Rs. 90.60, up by 0.10 points or 0.11% from its previous closing of Rs. 90.50 on the BSE.
The scrip opened at Rs. 93.00 and has touched a high and low of Rs. 96.40 and Rs. 88.55 respectively. So far 1908390 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 169.10 on 16-Nov-2021 and a 52 week low of Rs. 84.10 on 25-Jan-2022.
Last one week high and low of the scrip stood at Rs. 114.00 and Rs. 84.10 respectively. The current market cap of the company is Rs. 70685.08 crore.
The Institutions holding in the company stood at 15.68%, while Non-Institutions held 84.32%.
Zomato has received approval from board of directors for acquisition by way of subscription of 11,214 compulsorily convertible preference shares and 10 equity shares collectively aggregating to 19.48% of the share capital of Adonmo, for an aggregate cash consideration of around Rs 112.21 crore. The company has also received approval for acquisition by way of subscription of 1,259 compulsorily convertible preference shares and 1 equity shares collectively aggregating to 5% of the share capital of UrbanPiper Technology, for an aggregate cash consideration of around Rs 37.39 crore.
Pursuant to the approval of the Board, the Company has finalized and executed the relevant agreements for the Proposed Investments. The board of directors at its meeting held on January 27, 2022 approved the same.
Zomato is an Indian multinational restaurant aggregator and food delivery company founded by Pankaj Chaddah and Deepinder Goyal in 2008. It provides information, menus and user-reviews of restaurants as well as food delivery options from partner restaurants in select cities.
