Softbank divests 1.1% stake in Zomato
Date: 11-12-2023Japanese conglomerate Softbank has divested a 1.1% stake in Zomato for Rs 1,128 crore through an open market transaction. Invesco Mutual Fund (MF), Sundaram MF, Edelweiss MF, ICICI Prudential Life Insurance, Goldman Sachs (Singapore), Morgan Stanley Asia Singapore, Societe Generale, BNP Paribas Arbitrage, Copthall Mauritius Investment, and Citigroup Global Markets Investment, among others were the buyers of the Zomato’s share. SVF Growth (Singapore) Pte, an affiliate of Softbank, offloaded 9,35,69,368 shares. The shares were sold at an average price of Rs 120.50 apiece.
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.