Softbank sells 1.09% stake in Zomato worth Rs 1,040 cr via open market

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

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Japanese conglomerate Softbank on Friday divested a 1.09 per cent stake in online food delivery platform Zomato for Rs 1,040 crore through an open market transaction.

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

Bandhan Mutual Fund (MF), Motilal Oswal MF, Axis MF, Max Life Insurance Company, Abu Dhabi Investment Authority, Fidelity Investments, Goldman Sachs (Singapore), Societe Generale, and Morgan Stanley Asia Singapore, among others were the buyers of shares of Zomato.

According to the block deal data available with the NSE, SVF Growth (Singapore) sold 9,35,69,368 shares, amounting to a 1.09 per cent stake in Zomato.

The shares were disposed of at an average price of Rs 111.20 apiece, taking the transaction value to Rs 1,040.49 crore.

After the transaction, Softbank's shareholding in Zomato declined to 1.08 per cent from 2.17 per cent stake.

Shares of Zomato rose 1.84 per cent to close at Rs 113.70 apiece on the NSE on Friday.

In August, Softbank pared a 1.16 per cent stake in Zomato for Rs 947 crore through an open market transaction.