Food delivery behemoth, Zomato, has confirmed that it is in active discussions with Paytm for the potential acquisition of the latter’s movies and events business.

What Happened: Zomato, in a voluntary disclosure to the exchanges on Sunday, confirmed the ongoing talks with the payments giant. The company, however, made it clear that no binding decision has been reached that would necessitate a Board approval and subsequent disclosure as per the law.

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The company is undertaking these discussions to bolster its ‘Going-out’ business and to align with its current focus on its four key businesses. As per media reports, the deal could value the business at around ₹1,600 crore to ₹1,750 crore.

Zomato has been actively expanding its presence across various consumer categories, including food, grocery, and entertainment and has also made some high-profile acquisitions to achieve this. If this deal materialises, it will mark one of Zomato’s largest acquisitions to date. This follows previous buyouts, such as the acquisition of Uber Eats in 2020 and the takeover of the quick commerce platform Blinkit in 2021, which was an all-stock deal valued at ₹4,447 crore.

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