A group of investors have accused Zomato of not making timely disclosures regarding its acquisition of Blinkit last week in a complaint to the Securities and Exchange Board of India (SEBI), Economic Times (ET) reported. The complaint alleged that the failure of timely disclosure by Zomato* resulted in losses for the investors who would have been better prepared otherwise, the report continued. https://twitter.com/anuragsingh_as/status/1541993578871889920 Why it matters: Zomato has been looking to gain a foothold in quick commerce for a while now and Blinkit is critical to its plan. The acquisition, however, did not cheer up investors as demonstrated by the free fall witnessed by the company’s stock price since the announcement. The investors and analysts worry that Zomato may find it difficult to turn a profit, thereby affecting its bottom line, in a category with cutthroat competition. What was the reason behind…
