Softbank has divested a 1.09% 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 offloaded shares of Zomato on the National Stock Exchange (NSE). The shares were disposed of at an average price of Rs 111.20 apiece. In August, Softbank pared a 1.16% stake in Zomato for Rs 947 crore through an open market transaction.
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.
