New Delhi, Oct. 29 -- DoorDash's proposed purchase of Instacart could be announced as early as Thursday morning (local time). Sources familiar with the matter shared this information with CNBC. Reports suggest the deal could value Instacart at about $17 billion ( Rs.1.6 lakh crore). However, neither company has confirmed an agreement, according to the publication.

Talk of a possible sale started to gather pace last week. The Information reported that Instacart was exploring a sale. It had held talks with companies including Uber. Several outlets reported advanced discussions between DoorDash and Instacart on Monday.

Instacart shares rose about 4% in extended trading on Wednesday. DoorDash shares fell less than 1% during the same period....