<p>Uber Technologies on Wednesday sold its 7.8% stake in Indian food delivery firm Zomato Ltd for $392 million via a block deal on local exchanges, two sources familiar with the matter told Reuters.</p>.<p>The Zomato block deal was executed at 50.44 rupees per share. Zomato and Uber did not immediately respond to requests for comment.</p>.<p>Reuters reported on Tuesday the offered size of the block deal was set to be 612 million shares, according to its term sheet, which did not disclose the seller.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/zomato-falls-nearly-7-on-reports-of-uber-stake-sale-1132611.html">Zomato falls nearly 7% on reports of Uber stake sale</a></strong></p>.<p>As per Reuters calculations, the stake sale by Uber was worth 30.87 billion rupees ($392 million).</p>.<p>One of the sources said the stake was bought by around 20 global and Indian funds, including Fidelity, Franklin Templeton and India's ICICI Prudential.</p>.<p>Fidelity could not immediately be reached for comment, while Franklin and ICICI declined to comment.</p>.<p>Shares of Zomato Ltd fell up to 6.8% on Wednesday, their biggest drop in more than a week. The stock cut some losses and was trading down 2.6% by 0614 GMT.</p>.<p>BofA Securities was the sole bookrunner for Wednesday's transaction.</p>.<p>Zomato said on Monday it had recorded more orders and narrowed its loss for the June quarter to 1.86 billion rupees from 3.56 billion rupees a year earlier.</p>
<p>Uber Technologies on Wednesday sold its 7.8% stake in Indian food delivery firm Zomato Ltd for $392 million via a block deal on local exchanges, two sources familiar with the matter told Reuters.</p>.<p>The Zomato block deal was executed at 50.44 rupees per share. Zomato and Uber did not immediately respond to requests for comment.</p>.<p>Reuters reported on Tuesday the offered size of the block deal was set to be 612 million shares, according to its term sheet, which did not disclose the seller.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/zomato-falls-nearly-7-on-reports-of-uber-stake-sale-1132611.html">Zomato falls nearly 7% on reports of Uber stake sale</a></strong></p>.<p>As per Reuters calculations, the stake sale by Uber was worth 30.87 billion rupees ($392 million).</p>.<p>One of the sources said the stake was bought by around 20 global and Indian funds, including Fidelity, Franklin Templeton and India's ICICI Prudential.</p>.<p>Fidelity could not immediately be reached for comment, while Franklin and ICICI declined to comment.</p>.<p>Shares of Zomato Ltd fell up to 6.8% on Wednesday, their biggest drop in more than a week. The stock cut some losses and was trading down 2.6% by 0614 GMT.</p>.<p>BofA Securities was the sole bookrunner for Wednesday's transaction.</p>.<p>Zomato said on Monday it had recorded more orders and narrowed its loss for the June quarter to 1.86 billion rupees from 3.56 billion rupees a year earlier.</p>