Zomato board to consider acquisition proposals on June 24; stock gains 4%

According to a Business Standard report, Zomato may acquire quick commerce player Blinkit

Shares of food delivery firm Zomato rallied 4 per cent to Rs 68.60 on the BSE in Wednesday’s intra-day trade, thus gaining 5.5 per cent in the last two trading days, after the company said its board will meet on Friday, June 24, to consider a proposed acquisition.

"The meeting of the board of directors of the company is scheduled on June 24 to consider a potential acquisition transaction by the company, the consideration for the same may be discharged through issuance of equity shares on preferential basis," Zomato said in an exchange filing on Tuesday after market hours.