wordpress blog stats
Connect with us

Hi, what are you looking for?

Zomato gets CCI nod for Grofers investment, but says no plan on drawing any synergies yet

With this approval, Zomato is all set to re-enter the grocery delivery market which experts say could shoot up the competition even as rival Swiggy continues to expand its grocery service.  The Competition Commission of India on August 13 approved Zomato's acquisition of an approximately 9.3% stake each in Grofers India and Hands on Trades. While the former is engaged in online grocery delivery in over 35 cities across India, the latter is engaged in business-to-business wholesale trading of groceries and contract manufacturing of food products. The two biggest food delivery platforms in India, Zomato and Swiggy, are quickly making headway in the grocery delivery segment as well. This latest investment by Zomato, which recently made a blockbuster public market debut, will help the platform better compete with Swiggy's Instamart, which has already begun making gains in many cities. "The funding is not only expected to give Grofers the much-needed backing to fight competition that is only getting bigger, but may also be a beginning of Zomato’s partnership with Grofers, which may culminate into a strategic partnership," Rishi Anand, Partner, DSK Legal told MediaNama. Zomato's re-entry into grocery delivery Zomato first indicated an interest in the grocery delivery market in April 2020 when it entered this space through Zomato Market, but the company exited the space in June the same year. However, in its red herring prospectus, filed at the time of its initial public offering in July 2021, Zomato said that it was in the process of rolling out a grocery delivery…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ