CCI approves 9.3% stake purchase by Zomato in Grofers India

Zomato has invested $100 million (around Rs 745 crore) for acquiring a minority stake in Grofers

At present, there are 280 stores from the top 12 cities that are currently at different stages of going live on the Grofers platforms. Over time, the company would be expanding its network of dark stores across all the 38 cities it currently operates.

The Competition Commission of India has approved online food delivery platform Zomato’s proposed purchase of 9.3% stake in online grocery shopping player Grofers India.

Zomato, last month, said it has invested $100 million (around Rs 745 crore) for acquiring a minority stake in Grofers as the company looks to have more exposure to the online grocery segment.

Zomato will acquire 9.3% stake in Grofers India Pvt Ltd and Hands on Trades Pvt Ltd (HoT). Grofers International Pte is the holding company of Grofers India and HoT.

In a tweet on Friday, Competition Commission of India (CCI) said it has cleared the “proposed acquisition by Zomato of approximately 9.3% stake in Grofers India and Hands-on Trades”.

Under the transaction, Zomato would snap up around 9.3% stake in “each of Grofers India and HoT along with certain rights in each of the targets,” as per a notice filed with the regulator.

Published: August 13, 2021, 18:54 IST
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