Zomato seeks CCI nod for stake buy in Grofers India, HoT
Online food ordering platform Zomato looks to acquire approximately 9.3% stake in each of Grofers India and Hands on Trades Pvt Ltd (HoT)
"Till the time Zomato is not falling below its issue price, these dips should not worry investors"
New Delhi: Online food ordering platform Zomato has sought Competition Commission’s nod for buying a stake in online grocery shopping platform Grofers India and one more entity.
In this regard, a notice has been filed with the Competition Commission of India (CCI) for “the proposed acquisition by Zomato of approximately 9.3% stake in each of Grofers India and Hands on Trades Pvt Ltd (HoT) along with certain rights in each of the targets (proposed transaction)”.
Grofers International is an investment holding company and is the holding company of Grofers India and HoT.
“The proposed transaction will have no impact on the competitive landscape in any potential relevant market in India, in any manner,” as per the notice.
Published: July 2, 2021, 19:56 IST