SoftBank’s venture capital fund SVF Growth, Singapore, will sell a 1.1% stake in Indian food delivery firm Zomato for 10.24 billion rupees ($123.24 million), CNBC TV-18 reported on Thursday, citing sources.
SVF Growth will sell the stake at an offer price of Rs 109.4 to Rs 111.65 per share, at a 2% discount to its current market price at the lower end, the report added.
Zomato and Softbank did not immediately respond to a Reuters request for comment.
In August, Softbank’s Vision Fund sold a 1.17% stake in Zomato in a deal valued at 9.47 billion rupees at 94.7 rupees apiece in bulk deals.
US based private equity firm Tiger Global, also in August, sold its remaining 11.24 billion rupees stake in the company after cutting 2.34% stake last year.
Zomato shares have gained 88.3% so far this year and closed 1.4% lower on Thursday.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 19 2023 | 7:49 PM IST