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Tiger Global exits Zomato, offloads remaining shares worth Rs 1,123 crore

US-based investment major Tiger Global, via its VC fund Internet Fund III Pte Ltd, has exited online food delivery platform Zomato by selling its entire shareholding for Rs 1,123.85 crore. Tigal Global sold its remaining stake in Zomato via open market transactions on August 28, according to a filing with the Bombay Stock Exchange (BSE). The VC firm sold around 12.34 crore shares or 1.44 per cent stake in Zomato at an average price of Rs 91.01 per share. Zomato stock went up 1.5 per ...

Tiger Global exits Zomato, offloads remaining shares worth Rs 1,123 crore

Tiger Global exits Zomato, offloads remaining shares worth Rs 1,123 crore

Source: IANS
29/08/2023 9:26:49 AM

Japan`s SoftBank will likely sell shares in India`s Zomato

Japan's SoftBank Group will likely sell shares in Indian food delivery firm Zomato as the lock-in for investors post the company's acquisition of Blinkit ends on Aug. 25, CNBC-TV18 reported on Friday, citing sources. Zomato, which acquired the quick grocery-delivery startup Blinkit for 44.47 billion rupees ($538.05 million) last year, had issued a 3.55% stake to investor Softbank as part of the deal. U.S.-based firms Sequoia and Tiger Global, who were investors in Blinkit, had a...

Japan`s SoftBank will likely sell shares in India`s Zomato

Japan`s SoftBank will likely sell shares in India`s Zomato

Source: Reuters
25/08/2023 2:31:51 PM

Pluckk, a first-of-its-kind digital lifestyle-oriented fresh food brand in the Fruits and Vegetables (F&V) space, has announced the acquisition of KOOK, an Indian food-tech startup that offers a range of DIY Meal Kits for consumers, at a deal value of $ 1.3 million through a combination of cash and equity. KOOK offers DIY Meal Kits that make cooking easier for everyone by providing pre-portioned ingredients and easy-to-follow recipes. With a reputation for catering to various dietary p...

Food-tech startup Pluckk acquires 100% stake in Meal Kit brand KOOK

Source: IANS
2/05/2023 11:52:38 AM

Zypp Electric to deploy 1 lakh e-scooters for Zomato by 2024

Zypp Electric on Tuesday said it will deploy 1 lakh e-scooters for online food delivery platform Zomato by 2024. The company said that the association is part of a larger plan of Zomato to go completely electric by 2030. "This association will enable us to significantly reduce carbon emissions and bring more sustainable last-mile delivery options to our customers. We look forward to working together to create more efficient and environment friendly deliveries," said Mohit Sard...

Zypp Electric to deploy 1 lakh e-scooters for Zomato by 2024

Zypp Electric to deploy 1 lakh e-scooters for Zomato by 2024

Source: IANS
25/04/2023 11:01:35 AM

India's Zomato says most Blinkit stores reopened after wage protests

Indian food delivery firm Zomato Ltd said on Wednesday most stores of its grocery unit Blinkit had resumed operations after being shut due to wage protests, sending its shares up as much as 5%. The disruptions had less than 1% impact on Zomato's revenue, the Gurgaon-based company said in a regulatory filing. Blinkit, which Zomato bought last year for $550 million, accounted for 12.7% of Zomato's total revenue in the third quarter. Zomato had shut down some stores for a few days ...

India's Zomato says most Blinkit stores reopened after wage protests

India's Zomato says most Blinkit stores reopened after wage protests

Source: Reuters
19/04/2023 11:31:20 AM

Zomato-owned quick grocery delivery platform Blinkit has launched Brand Stores, where companies can showcase their products in a way that is tailored to their style. At Brand Stores, companies also have the avenue to create custom pages or flows on the page that allow them to highlight different products or engage with customers if they want to deliver a message about the brand. More than 20 brands are now part of the initiative, according to Blinkit. "At this point, we ar...

Blinkit introduces Brand Stores, over 20 companies now onboard

Source: IANS
16/02/2023 2:26:07 PM

India`s Zomato surge 13% on narrower quarterly loss

Shares of Zomato Ltd jumped 13% on Friday, a day after the food delivery company reported a narrower loss for the second quarter due to a rise in volumes and value of online orders. The company' shares rose as much as 13% to 72.25 rupees in early trading, to hit their highest since June 27. Zomato's consolidated net loss narrowed to 2.51 billion Indian rupees ($30.73 million) in the July-September quarter, from 4.30 billion rupees a year earlier. Excluding figures for its rec...

India`s Zomato surge 13% on narrower quarterly loss

India`s Zomato surge 13% on narrower quarterly loss

Source: Reuters
11/11/2022 10:12:51 AM

Zomato kicks off grocery delivery via Blinkit on main app in pilot test

Zomato on Saturday kicked off a pilot test of delivering groceries via Blinkit on its main platform in Delhi-NCR, as the online food aggregator aims to "accelerate" the 10-minute delivery platform's journey to profitability. The pilot test is currently being organised at select circles in Delhi-NCR, and after analysing the response, it will be expanded to other cities as well. "Blinkit tab in Zomato app is currently a pilot running at few locations for a small set of ...

Zomato kicks off grocery delivery via Blinkit on main app in pilot test

Zomato kicks off grocery delivery via Blinkit on main app in pilot test

Source: IANS
28/08/2022 9:13:12 AM

Difficult to `blink it`: Zomato says sticking to offer price for Blinkit shares

Food delivery company Zomato Ltd has said it was sticking to its original issue price of Rs 70.76 per share for the acquisition of Blink Commerce Private Ltd ("Blinkit"). In a regulatory filing late on Friday, Zomato said that this issue price was arrived at, based on the valuation report from Ernst and Young Merchant Banking Services LLP (EY). The company went in for a second valuation report from EY on the specific requests from the BSE Ltd and the National Stock Exchange Lt...

Difficult to `blink it`: Zomato says sticking to offer price for Blinkit shares

Difficult to `blink it`: Zomato says sticking to offer price for Blinkit shares

Source: IANS
7/08/2022 9:10:18 AM

Quote on Zomato - Blinkit deal By Dr. VK Vijayakumar, Geojit Financial Services

Below is quote on Zomato - Blinkit deal By Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services "This is a segment where profitability is a few years away. Some of them might do well in the long run. But retail investors, instead of chasing hope, will be better off chasing solid stocks with strong fundamentals now. Leading banks will report very good Q1 FY 23 results next month. That's a bird in hand; e-commerce companies are birds in bushes"...

Quote on Zomato - Blinkit deal By Dr. VK Vijayakumar, Geojit Financial Services

Quote on Zomato - Blinkit deal By Dr. VK Vijayakumar, Geojit Financial Services

Source: Geojit Financial Services Ltd
27/06/2022 4:15:03 PM

Quote on Zomato - Blinkit deal By Shivam Bajaj, Avener Capital

Below is quote on Zomato - Blinkit deal By Shivam Bajaj, Founder & CEO at Avener Capital "Zomato’s acquisition of Blinkit for Rs.4,447 crore in an all-stock deal marked its entry into the emerging sector of “quick-commerce”. This deal shall provide cross-selling opportunities to Blinkit by gaining access to the 15mn active monthly users of Zomato and vice-versa. Further, the merger might yield synergies in terms of better utilisation of Zomato’s h...

Quote on Zomato - Blinkit deal By Shivam Bajaj, Avener Capital

Quote on Zomato - Blinkit deal By Shivam Bajaj, Avener Capital

Source: PR Agency
27/06/2022 3:25:08 PM

HP Cotton Textile Mills zooms on incorporating wholly owned subsidiary company

HP Cotton Textile Mills is currently trading at Rs. 123.70, up by 9.40 points or 8.22% from its previous closing of Rs. 114.30 on the BSE. The scrip opened at Rs. 118.00 and has touched a high and low of Rs. 126.75 and Rs. 118.00 respectively. So far 5161 shares were traded on the counter. The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 206.00 on 29-Dec-2021 and a 52 week low of Rs. 65.65 on 02-Jul-2021. Last one week high and low of the scrip s...

HP Cotton Textile Mills zooms on incorporating wholly owned subsidiary company

HP Cotton Textile Mills zooms on incorporating wholly owned subsidiary company

Source: Accord Fintech
27/06/2022 11:09:25 AM