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

Why has Zomato postponed its board meeting?

Angel dcosta answered.
3 weeks 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.