Zomato‘s share price was back in the green on Wednesday morning looking to halt its two-straight session losing streak.

What Happened: The food delivery behemoth said on Tuesday it has completed the acquisition of two One 97 Communications subsidiaries that house Paytm’s movie and sports ticketing businesses, respectively.

This acquisition is part of a share purchase and subscription agreement between Zomato and One 97 Communications, which was executed on August 21, 2024.

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Last week, Zomato agreed to purchase Paytm’s entertainment ticketing business for a staggering ₹2,048 crore, as part of Paytm's plan to focus more on its primary payments and financial services.

The deal involved the transfer of Paytm’s entertainment ticketing business to its wholly-owned subsidiaries, Orbgen Technologies and Wasteland Entertainment, which were to be then sold to Zomato.

On Tuesday, Zomato launched a novel feature called “book now, sell anytime”, This feature allows users to book tickets for an event well in advance and sell them anytime, thereby providing flexibility and convenience to its users.

The acquisition of the two units, along with the introduction of this new feature, signifies Zomato’s commitment to building on the newly acquired ticketing business.

Price Action: Zomato’s share price was up 0.37% to trade at ₹257 as the markets opened on Wednesday.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.