Zomato shares fall over 6%

Shares of Zomato Ltd fell by over 6 per cent on Monday after announcement that the online food delivery platform will acquire Blink Commerce Pvt Ltd (formerly known as Grofers) for Rs 4,447.48 crore.

The stock declined 6.40 per cent to settle at Rs 65.85 on the BSE. During the day, it fell 7.53 per cent to Rs 65.05.

At the NSE, it went lower by 6.59 per cent to settle at Rs 65.85 apiece.

Zomato Ltd on Friday said it will acquire Blink Commerce Pvt Ltd for Rs 4,447.48 crore in a share swap deal as part of its strategy of investing in quick commerce business.