Grofers

Zomato now approves granting significant loans to Blinkit. Too many unanswered questions.

After investing $100 mn (Rs 750 cr) for a minority stake in Blinkit (Grofers) last year, Zomato now approves a further investment upto $150 mn (approx Rs 1,150 cr) into the Company. Key points to note: The subject investment is in the nature of loan to be disbursed in one or more tranches. Rate of … Read more

Grofers advances IPO lisiting target to 2021-end

Softbank-backed Grofers has advanced its plan to launch an initial public offer by the end of next year after its profitability path zoomed during the lockdown period, a top official of the company said. Grofers co-founder and CEO Albinder Dhindsa told PTI that the company started making operational profit in January and expects to become … Read more