Zomato, Blinkit sign term-sheet for merger

  • Zomato and instant delivery service Blinkit, formerly Grofers, have signed a term sheet as a precursor to the merger, as per ET Now.
  • Existing Blinkit investors such as SoftBank and Tiger Global are likely to get liquid, listed shares of Zomato as part of the merger deal.
  • Zomato already owns a 10% stake in Blinkit.

[Via]