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SoftBank fund to sell Rs 1,024 crore stake in Zomato

SVF Growth will sell the stake at an offer price of 109.4 rupees to 111.65 rupees per share, at a 2 per cent discount to its current market price at the lower end.
Last Updated 19 October 2023, 15:13 IST

SoftBank's venture capital fund SVF Growth, Singapore, will sell a 1.1 per cent stake in Indian food delivery firm Zomato for Rs 1,024 crore ($123.24 million), CNBC TV-18 reported on Thursday, citing sources.

SVF Growth will sell the stake at an offer price of 109.4 rupees to 111.65 rupees per share, at a 2 per cent 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 per cent stake in Zomato in a deal valued at Rs 947 crore at 94.7 rupees apiece in bulk deals.

US-based private equity firm Tiger Global, also in August, sold its remaining Rs 1,124 crore stake in the company after cutting 2.34 per cent stake last year.

Zomato shares have gained 88.3 per cent so far this year and closed 1.4 per cent lower on Thursday.

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(Published 19 October 2023, 15:13 IST)

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