What's the news?
CCI has approved Zomato’s request to invest in online grocery platform Grofers India and its wholesale entity Hands on Trades.On Friday, the Competition Commission of India (CCI) wrote on Twitter that it had approved the “proposed acquisition by Zomato of approximately 9.3% stake in Grofers India and [Hands on Trades]”.
More to know
The investment is part of Zomato’s larger push to get back into grocery deliveries, with its competitor Swiggy doubling down on these with Instamart. Zomato has also relaunched its own grocery marketplace—Zomato Market—starting with Delhi-NCR.