Softbank sells 1.16% stake in Zomato for `947 crore

| | new delhi
  • 0

Softbank sells 1.16% stake in Zomato for `947 crore

Thursday, 31 August 2023 | PTI | new delhi

Japanese conglomerate Softbank on Wednesday divested a 1.16 per cent stake in online food ordering company Zomato for Rs 947 crore through an open market transaction.

Softbank through its affiliate SVF Growth (Singapore) Pte offloaded the shares of Zomato on the National Stock Exchange. Aditya Birla Sun Life Mutual Fund (MF), Axis MF, Franklin Tempelton MF, Kotak Mahindra MF, Societe Generale, Morgan Stanley Asia Singapore, Nomura Singapore, Goldman Sachs and Ghisallo Master Fund LP were among the buyers of shares of Zomato.

SVF Growth (Singapore) Pte disposed of 10,00,00,000 shares, amounting to a 1.16 per cent stake in Gurgaon-headquartered Zomato, as per the block deal data available with the NSE.

The shares were sold at an average price of Rs 94.70 apiece, taking the aggregate transaction size to Rs 947 crore.

Post the transaction, Softbank's shareholding has declined to 2.19 per cent from 3.35 per cent stake at the end of June quarter, shareholding data showed with the bourse. On Wednesday, shares of Zomato jumped 5.28 per cent to close at Rs 99.70 apiece on the NSE.

State Editions

SC uphold land acquisition for Yamuna Expressway

27 November 2024 | Staff Reporter | Delhi

Delhi air quality swings between severe to poor

27 November 2024 | Staff Reporter | Delhi

Center manipulating electoral rolls in Delhi fearing BJP defeat

27 November 2024 | Staff Reporter | Delhi

LG announces month-long anti-drug campaign in Capital

27 November 2024 | Staff Reporter | Delhi

BJP to target AAP in Assembly on corruption, pollution

27 November 2024 | Staff Reporter | Delhi

BJP woos slum dwellers with night stays

27 November 2024 | Staff Reporter | Delhi

Sunday Edition

Food Freak | Lobsters Take Centre Stage at Grappa Pop-Up

24 November 2024 | Pawan Soni | Agenda

A Cozy Escape

24 November 2024 | Abhi Singhal | Agenda

Reviving Telangana’s Culinary Heritage

24 November 2024 | Sharmila Chand | Agenda

The art and spirit of cake mixing

24 November 2024 | Team Viva | Agenda

LUXURY CONVERGE AT HONG KONG

24 November 2024 | AKANKSHA DEAN | Agenda

Discovering the World’s True Essence

24 November 2024 | RUPALI DEAN | Agenda