Rs 1,125-cr Zomato shares change hands in block deal
image for illustrative purpose
Shares worth $135 million (Rs1,125 cr) in food delivery platform Zomato exchanged hands via a block deal on Friday, with Japanese investment giant SoftBank being the likely seller. Around 1.06 per cent stake of the company or 9.35 crore shares were exchanged hands in the deal during the early session.
Zomato stock was trading around Rs121 on the stock exchange after the block deal. SoftBank’s SVF Growth was the likely seller, which offloaded another 1.06 per cent stake in Zomato. However, it was not clear who was the buyer in the transaction.
In October, SoftBank had sold a 1.09 per cent stake in Zomato in a bulk deal worth Rs1,040.5 crore via its venture capital fund SVF Growth. In August, SoftBank had sold a partial stake in Zomato through bulk deals at Rs947 crore. SoftBank bought Zomato’s stake in June last year for around Rs71 per share.
For the company, Zomato is just an investment on which the company has made significant profits.
