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SoftBank sells Zomato shares worth Rs 947 cr
SoftBank Vision Fund (SVF) on Wednesday sold around 100 million shares, or 1.15 per cent equity, at Rs 94.7 apiece to mop up Rs 947 crore. Among the buyers were Societe Generale, Axis MF, Aditya Birla MF and Morgan Stanley Asia. At the end of the June 2023 quarter, SVF Growth (Singapore) held a 3.35 per cent stake in Zomato. Earlier this week, Internet Fund III, a venture capital fund managed by Tiger Global, and Apoletto Asia, a fund backed by Russian billionaire Yuri Milner, had sold shares worth Rs 1,412 crore of Zomato. Shares of Zomato last closed at Rs 99, with a gain of 5.5 per cent.
Navi MF files papers for first active scheme
Navi Mutual Fund may soon join other peers in launching a balanced advantage fund. The fund house has filed papers with the Securities and Exchange Board of India (Sebi). This will be the fund house’s first launch in the active space under the present sponsors. Since its start in 2021 with the acquisition of Essel MF, the fund house has focused solely on passive funds, launching nine index and fund-of-funds. Most recently, it launched the lowest-cost Sensex index fund. The fund house’s hybrid plan comes at a time when the industry is witnessing back-to-back launches in the category, on expectations that hybrid schemes will emerge as the preferred category for investors with a lower risk appetite following changes in debt fund taxation.
First Published: Aug 30 2023 | 8:29 PM IST
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