InvestorQ : Why has Zomato postponed its board meeting?
Anamika Sodhani made post

Why has Zomato postponed its board meeting?

Angel dcosta answered.
12 months ago

This is likely to impact sentiments and the impact is visible in the stock price. In a move that could impact sentiments, Zomato postponed its board meeting and will first approve the acquisition of quick commerce (Q-Commerce) player Blinkit. Prior to the board meeting, Zomato plans to take all the major stakeholders of the company into confidence. This is more a part of the normal corporate governance process.

It is also likely that the valuation of Blinkit may come down from the originally stated $700 million due to market conditions. The deal will be via stock swap in the ration of 1 share of Zomato for 10 shares of Blinkit. This may, however, be modified appropriately with the change in valuations.