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Competition Commission of India (CCI) has approved Zomato’s request to acquire approximately how much per cent stake in the online grocery platform Grofers India and its wholesale entity Hands on Trades?

Competition Commission of India (CCI) has approved Zomato’s request to acquire approximately how much per cent stake in the online grocery platform Grofers India and its wholesale entity Hands on Trades? Correct Answer 9.3

The correct answer is 9.3%.

  • Competition Commission of India (CCI) has approved Zomato’s request to invest in the online grocery platform Grofers India and its wholesale entity Hands on Trades. 
  • It will acquire approximately a 9.3% stake in the firms.
  • Zomato is also finalizing a $100 million investment in the e-grocer at a valuation of $1 billion. 
  • Zomato has also relaunched its own grocery marketplace—Zomato Market—starting with Delhi-NCR.
  • In late June, Grofers closed a $120 million investment from Zomato and Tiger Global, valuing it at a little over $1 billion.
  • Tiger Global is an investor in both Zomato and Grofers.

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