Sector: Restaurants
Byke announces preferential allotment
The Company has announced – Up to 1,25,00,000 (One crore twenty five lakhs) fully convertible equity warrants convertible into equivalent number of Equity Shares of the Company having face value of Rs. 10/- each, at a Premium of Rs 35/- per Warrant, aggregating up to Rs. 56.25 cr 25% of the consideration shall be payable … Read more
Zomato brings back Gold. Tussle with restaurants restarts.
Zomato Gold is a periodic subscription based membership, whereby the subscribing customers get significant discounts and free deliveries from the member restaurants. Initially, it was mainly available on offline eating. However, later Zomato extended it to deliveries and that’s when member restaurants put up a significant protest because of which the scheme was altogether stopped … Read more
Hotels, restaurants can’t force consumers to pay service charge, orders CCPA
The Central Consumer Protection Authority (CCPA) on Monday barred hotels and restaurants from levying service charge automatically or by default in bills. It will be completely up to the customers to pay any amount as tip and eateries cannot directly or indirectly levy any charge more than the rate of food items. “Hotels, restaurants can’t … Read more
As widely speculated, Zomato finally acquires Blinkit for Rs 4,447 crore in an all stock deal.
Quick commerce is a buzzword now-a-days and Zomato has been at the forefront of it. It has provided significant support to Blinkit (erstwhile Grofers) over the last few months. In November 2021, invested an equity of $100 mn, valuing Blinkit at > $1 bn; and In March 2022, committed debt of $150 mn to support … Read more
CCI orders to investigate Zomato, Swiggy over neutrality
The order comes months after the National Restaurant Association of India (NRAI) asked the Competition Commission of India (CCI) to investigate the companies for breaching platform neutrality by providing priority to the exclusive contractors. Key points to note – NRAI represents more than 5,00,000 restaurants across India. Other than complaints about platform neutrality, complaint by … Read more
Zomato invests into a Kitchen Equipment Start-up. Segment seems interesting.
Zomato has announced fresh investment into Mukunda Foods Private Limited (MFPL). Key points to note: MFPL, founded in 2012 is into the design & development of automated kitchen food equipment. It’s current product portfolio includes – deep fryers, rice/ noodle/ pasta maker, chinese food, dosa maker and grilling machine. It’s products are more technologically advanced, … Read more