iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Zomato acquires 16.66% stake of Mukunda Foods for $5 mil.

16 Mar 2022 , 09:27 AM

Mukunda is a food robotics company that designs and manufactures smart robotic equipment to automate food preparation for restaurants. Their products enable restaurants to scale rapidly while maintaining consistency in food quality and customer experience across multiple outlets.

Mukunda also helps restaurants to become more efficient by reducing manpower cost, wastage and increase kitchen throughput. Zomatos investment will help Mukunda Foods scale faster, help reduce restaurant food prices, expand margins, and enhance customer delight, as per the companys press statement.

In addition to the above, the board has also granted a loan of up to $150 million to Grofers India (GIPL) in one or more tranches and delegated the authority to the senior management of the company to decide the key terms of the loan and execute the definitive documents at a future date. The interest rate for the loan will be 12% p.a. or higher with a tenor of not more than one year. This loan will support the capital requirements of GIPL in the near term and is in line with its intent of investing up to $400 million cash in quick commerce in India over the next two years.

On a consolidated basis, the food delivery company reported net loss of Rs 63.20 crore Rs 63.20 crore in Q3 December 2021 as against net loss of Rs 352.60 crore in Q3 December 2020. Net sales rose 82.47% to Rs 1,112 crore in Q3 December 2021 over Q3 December 2020.

Shares of Zomato slipped 0.07% to Rs 76.55 on BSE. Zomatos technology platform connects customers, restaurant partners and delivery partners, serving their multiple needs. It also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners.

Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.