Ashneer Grover says ‘Blinkit served piping hot misery to Zomato’ | Startup News

Ashneer Grover says 'Blinkit served piping hot misery to Zomato'

Ashneer Grover, founder and former MD of BharatPe, and Shark tank India Judge taking an offense on Twitter said the shares of Zomato would have increased to Rs 450 if it had combined with Swiggy instead of Blinkit. Ashneer Grover tweeted “On the stock market- @letsblinkit served piping hot misery to @zomato in 10 minutes! Yeh hi agar @Swiggy ko merge Kar Liya Hota to Rs. 450 ka stock hota !!” In march 2022, Ashneer Grover resigned as managing director from BharaPe after his wife was fired from his position.

On Monday, the shares of online food delivery service Zomato fell more than 11% and reached a record low during stock market day trading. In July 2021, Zomato made a spectacular debut to an all-time high of Rs 169 on the Public share Markets. Online food delivery platform Zomato recently paid Rs 4,437 crore to obtain Blinkit, formerly known as Grofers, and previously Ashneer Grover was a chief financial officer at Blinkit for two years. The company’s board in a meeting approved the acquisition of 33,018 equity shares of Blink Commerce Pvt Ltd for a total purchase consideration of Rs 4,447.48 crores per equity share at Rs 13.45 lakh, Zomato said in a regulatory filing.

Despite the fact that Zomato shares have been declining for several months, Ashneer Grover tweeted in May that buying Zomato stock would not be a bad idea. Ashneer Grover tweeted on 9 May “It’s all about perspective. If you were a Zomato employee and exercised your ESOP (employee stock ownership) at Rs 140 or more after the IPO, you probably paid a higher cost per share as income tax, which you can buy it today from the market freely. At Rs 56 per share price, markets are giving everyone ESOPs,”. As of July 27, 2022, at 3.15 pm IST, each Zomato share was being sold for Rs 44.25 on the Bombay Stock Exchange.

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