 "SoftBank looks to exit Zomato, plans to offload 93.5 million shares")
SoftBank’s investment firm SVF Growth Singapore plans to offload its remaining 93.5 million shares (1.1 per cent equity) in food delivery major Zomato on Friday.
The price range for the transaction has been fixed at Rs 120-121 per share, said sources.
Shares of Zomato last closed at Rs 121.8. SoftBank will be able to mop up about Rs 1,130 crore ($135 million) from the deal. In October, the investment major had sold 1.1 per cent stake in Zomato at Rs 111.2 per share to raise Rs 1,040 crore.
Last month, Alipay Singapore Holding had sold its entire 3.44 per cent stake in Zomato. It sold 296 million shares at Rs 112.7 apiece for a total of Rs 3,336 crore.
Shares of Zomato have more than doubled this year.
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