Zomato Denies Media Speculation About Acquisition Offer to Shiprocket

Online food platform Zomato has denied media reports claiming it made an offer to acquire homegrown logistics solution provider Shiprocket for close to $2 billion (more than Rs 16,600 crore).

Earlier today, media reports emerged, stating that Zomato had put forth an acquisition proposal to Shiprocket, but no final decision had been made.

However, in a statement issued on Thursday, Zomato CEO Deepinder Goyal refuted the claims, calling them "incorrect news" and urging investors to exercise caution against such speculation.

"We deny this statement and would like to caution investors against such incorrect news floating in the market," Goyal stated. "We remain focused on our existing businesses with no plans for any acquisition at this moment."

He further clarified that while the company doesn't typically comment on media speculation, it felt obligated to issue a statement in this case, considering the significant size of the purported deal and the potential market uncertainty it could create.