SoftBank to sell 1.17% stake in Zomato for Rs 940 cr: Report
Mumbai: SoftBank Vision Fund (SVF Global) is reportedly planning to sell a 1.17 percent stake in food delivery giant Zomato for Rs 940 crore (approximately $126 million) through a block deal, media reports said.
The sale will involve 10 crore shares being offered by SVF Growth Fund at a price of Rs 94 per share, CNBC TV-18 reported citing sources.
Kotak Securities will facilitate the transaction as the broker for the deal.
Earlier, Zomato's stock had risen by 5 percent on the exchanges, driven by a block deal in which 184 million shares (equivalent to a 2.14 percent stake) changed hands.
According to Moneycontrol, sources indicated that SoftBank was considering selling its shares following the expiration of the lock-in period for investors after the Blinkit deal on August 25.
The specific buyers and sellers involved in the transaction were not immediately disclosed.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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