Diabytes
Quick Commerce News
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Companies are likely to focus now on improving utilisation of existing assets and maintaining a high retention ratio of customers acquired over the past year.
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In the logistics sector, the temporary workforce surged by 20-30 per cent to support the anticipated 35 per cent growth in e-commerce sales.
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Zomato would offer up to 629 million shares, representing a 6.88 percent ownership stake on a fully diluted basis.
Zomato shares finished at Rs 70.35 on the BSE, up 1.15 percent.
The Blinkit acquisition highlights the hyper-competitive and cash-hungry character of the fast commerce industry.
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Take a look at the apps offering 10-minute grocery delivery inside.
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Zomato had last year invested USD 100 million (Rs 745 crore) for acquiring around 9 per cent stake in Grofers.
Zomato further said it will acquire 16.66 per cent of share capital of Mukunda Foods.
The proposed investment is subject to fulfilment of certain customary conditions precedent.
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