Zomato has disputed claims that it has bid $2 billion to acquire delivery company Shiprocket. The corporation called the news "incorrect" in a regulatory filing.
According to the filing, the business wrote, "We have noticed that there are certain news articles circulating in the mainstream media with the subject 'Zomato offers to acquire Shiprocket for $2 billion'."
"We deny this statement and would like to caution investors against such incorrect news floating around the market," it continued. We remain focused on our existing operations and have no plans for acquisitions at this time." Deepinder Goyal, CEO of Zomato, also rejected the report in a post on social networking platform X.
"Kindly note that the Company does not comment on media speculation but is clarifying this information out of abundant caution, given the large size of the deal mentioned in the news article and the uncertainty that it may create in the market," he said in a statement.
Bloomberg reported earlier this week that Zomato had made an approach to buy Shiprocket. However, it was emphasized that "no concrete decision has been made."
Shiprocket is already backed by Zomato. During its $185 million Series E investment in 2021, it chose to invest in Shiprocket. Temasek and Lightrock India also took part in the round. Zomato's stock closed at Rs 127.55 per share on the BSE on Thursday.
