Zomato, a platform for online meal delivery, made the announcement on Thursday that it has been granted authorization by the Reserve Bank of India (RBI) to operate as an “Online Payment Aggregator.”
“According to our earlier disclosure dated August 4, 2021 regarding the incorporation of Zomato Payments Private Limited (“ZPPL”), a wholly owned subsidiary of Zomato Limited (“the Company”) to carry out the business, inter alia, as payment aggregator and issuer of pre-paid payment instruments, we wish to inform you that ZPPL has been granted a certificate of authorization dated January 24, 2024, from the Reserve Bank of India (“RBI”) to operate as an ‘Online Payment Aggregator’ in India with effect from January 24, 2024, as per the guidelines issued by the RBI,” Zomato said in an exchange filing.
At the time that markets closed, the value of Zomato’s shares was trading in the red at ₹136.00. As per the website of the Bombay Stock Exchange (BSE), the current market capitalization of the firm is ₹1,18,468 crore.
Deepinder Goyal, the CEO of Zomato, recently disclosed that the meal delivery platform fulfilled nearly the same number of orders on New Year’s Eve (NYE) 2023 as it did on New Year’s Eve (NYE) 15, 16, 17, 18, 19, and 20 of the previous year combined.
Thursday was the day when Zomato made the announcement that it had been granted authorization by the Reserve Bank of India to operate as an “Online Payment aggregater.(File from Reuters)
Zomato made the announcement for the first time on Thursday that it has been granted authorization by the Reserve Bank of India to operate as an “Online Payment Aggregator” (Reuters file).
Some interesting information: on New Year’s Eve 23, we delivered almost as many orders as we did on New Year’s Eve 15, 16, 17, 18, 19, and 20 combined. Eagerly anticipating what lies ahead! A post was made by Goyal on social site X.
During the month of December of the previous year, Bloomberg reported that Zomato had made a bid to acquire Shiprocket, an Indian e-commerce shipping firm.
The individuals, who did not wish to be identified because they were disclosing confidential information, stated that the offer valued the platform at approximately $2 billion. According to the people, Zomato has not yet made a final decision, and the business may even decide not to move forward with a bid for the company.
