SoftBank fund to sell 1.1% stake in Zomato for Rs 1,024 cr: Report
Offer price is likely to be Rs 109.4-Rs 111.65 per share, said a report
- Oct 19, 2023,
- Updated Oct 19, 2023 7:35 PM IST
SoftBank's venture capital fund SVF Growth, Singapore, will sell a 1.1% stake in food delivery firm Zomato Ltd for Rs 1,024 crore through bulk deals, said a report on Thursday.
Offer price is likely to be Rs 109.4-Rs 111.65 per share, a discount of up to 2% to current market price at the lower end, reported CNBC TV18 citing sources.
On Thursday, Zomato's scrip on BSE closed 1.6% lower at Rs 111.4.
In August, SoftBank sold a partial stake in Zomato through bulk deals at a deal value of Rs 947 crore.
According to exchange data, SoftBank Vision Fund had offloaded 10 crore shares, or 1.17% stake, in the company at Rs 94.7 per share as the lock-in for the post-Blinkit deal ended this week. As of June-end, SVF Growth (Singapore) Pte Ltd held 3.35% in the company.
In August, US-based private equity firm Tiger Global sold its remaining stake in Gurgaon-headquartered Zomato in a deal valued at Rs 1,124 crore.
The private equity firm sold 123.5 million shares at 91.01 rupees per share through bulk deals, while Morgan Stanley Asia Singapore, Kotak Mahindra Mutual Fund, Societe Generale, BNP Paribas Arbitrage Fund were among buyers, as per BSE data.
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.
SoftBank's venture capital fund SVF Growth, Singapore, will sell a 1.1% stake in food delivery firm Zomato Ltd for Rs 1,024 crore through bulk deals, said a report on Thursday.
Offer price is likely to be Rs 109.4-Rs 111.65 per share, a discount of up to 2% to current market price at the lower end, reported CNBC TV18 citing sources.
On Thursday, Zomato's scrip on BSE closed 1.6% lower at Rs 111.4.
In August, SoftBank sold a partial stake in Zomato through bulk deals at a deal value of Rs 947 crore.
According to exchange data, SoftBank Vision Fund had offloaded 10 crore shares, or 1.17% stake, in the company at Rs 94.7 per share as the lock-in for the post-Blinkit deal ended this week. As of June-end, SVF Growth (Singapore) Pte Ltd held 3.35% in the company.
In August, US-based private equity firm Tiger Global sold its remaining stake in Gurgaon-headquartered Zomato in a deal valued at Rs 1,124 crore.
The private equity firm sold 123.5 million shares at 91.01 rupees per share through bulk deals, while Morgan Stanley Asia Singapore, Kotak Mahindra Mutual Fund, Societe Generale, BNP Paribas Arbitrage Fund were among buyers, as per BSE data.
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.