A STUDY ON THE STRATEGIC ROLE OF FINANCIAL CONSULTANTS IN M&A DECISION-MAKING: A CASE STUDY OF THE ZOMATO-BLINKIT ACQUISITION

ABSTRACT This research investigates the strategic influence of financial consultants in merger and acquisition (M&A) activities, using Zomato’s acquisition of Blinkit as a focused case study. As one of India’s most notable quick commerce transactions, the deal provides a relevant context for assessing advisory involvement. Employing a qualitative case study approach, the paper analyzes how consultants contributed to key phases of the transaction, including valuation, deal structuring, risk mitigation, and post-acquisition integration. The findings indicate that financial consultants were instrumental in guiding Zomato’s expansion into quick commerce by recommending a stock-based acquisition model and crafting a narrative to address investor concerns. The study adds to existing M&A scholarship by highlighting the increasingly strategic role of consultants in technology-driven acquisitions within emerging markets.