Ant Group-backed Zomato to buy additional stake in Blinkit for about $568 million
06/24/2022 | 09:38am EDT
BENGALURU (Reuters) - India's Zomato Ltd said on Friday it will buy additional stake in local grocery-delivery startup Blinkit for 44.47 billion rupees ($568.16 million) as the food-delivery firm looks to take advantage of the booming quick delivery market.
China's Ant Group-backed Zomato already owns a more than 9% stake in Blinkit.
($1 = 78.2700 Indian rupees)
(Reporting by Rama Venkat in Bengaluru; Editing by Shinjini Ganguli)