SoftBank Exits Zomato By Selling 1.07% Stake For Rs 1,127 Crore

SoftBank-affiliated SVF Growth (Singapore) Pte. has cut a 1.07% stake in food aggregator Zomato Ltd. for Rs 1,127 crore.

SVF Growth offloaded 9.35 crore shares at Rs 120.5 apiece, according to data from the National Stock Exchange.

Societe Generale bought a 0.24% stake, Edelweiss Mutual Fund purchased a 0.09% stake, and Morgan Stanley Asia Singapore Pte. bought a 0.09% stake at Rs 120.5 apiece, among other buyers.

In October, SoftBank sold a 1.1% stake in Zomato for Rs 1,040 crore.

As of September, SVF Growth had a 2.17% stake in Zomato. After these two stake sales, SoftBank no longer holds any stake in the company.

Shares of Zomato closed 1.44% lower at Rs 119.95 apiece on the NSE, as compared with a 0.33% advance in the benchmark Nifty 50.