Softbank Vision Growth Fund sells 10 crore shares in Zomato: Report
This comes just a day after Tiger Global's Internet Fund III Pte sold entire 1.4 per cent stake in Zomato through open market transactions on Monday.
- Aug 29, 2023,
- Updated Aug 29, 2023 8:55 PM IST
SoftBank Vision Growth Fund has sold 10 crore shares of food delivery aggregator Zomato at a rate of Rs 94 per share, CNBC reported on Wednesday. The sold shares represented 1.17 per cent equity. The total value of the deal was Rs 940 crore.
Also read: Tiger Global sells entire 1.4% stake in Zomato for Rs 1,124 cr
This comes just a day after Tiger Global's Internet Fund III Pte sold entire 1.4 per cent stake in Zomato through open market transactions on Monday. It sold the 1.4 per cent stake it got as a result of the Blinkit merger for $136 million. The lock-in expiry for those shares was Monday. The New York-based firm sold 12.35 crore shares at Rs 91.01 apiece to raise about Rs 1,124 crore. Tiger had invested $111 million in Blinkit, which represents 22 per cent profit.
Tiger Global first invested in Zomato in 2020, and it also got Zomato shares as a part of the Indian food delivery firm's acquisition of quick grocery-delivery startup Blinkit last year. The private equity firm previously cut its stake in Zomato in August 2022.
Earlier this month, Zomato posted its first-ever profit, helped by a tax gain and strong orders in its food and grocery delivery businesses.
Zomato shares rose 2.51 per cent to settle at 94.65 on BSE.
(With inputs from Reuters)
SoftBank Vision Growth Fund has sold 10 crore shares of food delivery aggregator Zomato at a rate of Rs 94 per share, CNBC reported on Wednesday. The sold shares represented 1.17 per cent equity. The total value of the deal was Rs 940 crore.
Also read: Tiger Global sells entire 1.4% stake in Zomato for Rs 1,124 cr
This comes just a day after Tiger Global's Internet Fund III Pte sold entire 1.4 per cent stake in Zomato through open market transactions on Monday. It sold the 1.4 per cent stake it got as a result of the Blinkit merger for $136 million. The lock-in expiry for those shares was Monday. The New York-based firm sold 12.35 crore shares at Rs 91.01 apiece to raise about Rs 1,124 crore. Tiger had invested $111 million in Blinkit, which represents 22 per cent profit.
Tiger Global first invested in Zomato in 2020, and it also got Zomato shares as a part of the Indian food delivery firm's acquisition of quick grocery-delivery startup Blinkit last year. The private equity firm previously cut its stake in Zomato in August 2022.
Earlier this month, Zomato posted its first-ever profit, helped by a tax gain and strong orders in its food and grocery delivery businesses.
Zomato shares rose 2.51 per cent to settle at 94.65 on BSE.
(With inputs from Reuters)