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Softbank divests 1.16% stake in Zomato

31 Aug 2023 Evaluate

Japanese conglomerate Softbank has divested a 1.16 per cent stake in Zomato for Rs 947 crore through an open market transaction. Softbank through its affiliate SVF Growth (Singapore) Pte offloaded the shares of Zomato on the National Stock Exchange.

As per the block deal data available with the NSE, SVF Growth (Singapore) Pte disposed of 10,00,00,000 shares, amounting to a 1.16 per cent stake in Gurgaon-headquartered Zomato. The shares were sold at an average price of Rs 94.70 apiece, taking the aggregate transaction size to Rs 947 crore.

Aditya Birla Sun Life Mutual Fund (MF), Axis MF, Franklin Tempelton MF, Kotak Mahindra MF, Societe Generale, Morgan Stanley Asia Singapore, Nomura Singapore, Goldman Sachs and Ghisallo Master Fund LP were among the buyers of shares of Zomato.

Zomato is an Indian multinational restaurant aggregator and food delivery company founded by Pankaj Chaddah and Deepinder Goyal in 2008. It provides information, menus and user-reviews of restaurants as well as food delivery options from partner restaurants in select cities.


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