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Softbank sells 1.16% stake in Zomato for Rs 947 crore

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Softbank through its affiliate SVF Growth (Singapore) Pte offloaded the shares of Zomato on the National Stock Exchange

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.

According to reports, Softbank had received shares of Zomato after the platform acquired Blinkit in August last year. There was a lock-in period of 12 months for these shares.

With the expiry of the lock-in period this month, Softbank has started offloading the shares. Softbank was an investor in Blinkit, as per the reports.

 

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