Zomato's Blinkit deal to give Japanese investor SoftBank money in the bank

Zomato’s attempt to acquire quick commerce player Blinkit will come up for board approval on June 17. If the deal goes through, it will not only give Japanese investor SoftBank shares in Zomato, but also allow it to make some money from the investments it has made in Blinkit, said sources in the know.

If the board does give its nod, SoftBank will get about 4-5 per cent stake in the listed entity. Sof­tBank is the largest shareholder in Blinkit, with 44 per cent stake.

“So far, the company has invested about $300 million. With this, it may end up