SoftBank sells 1.09% stake in Zomato for over Rs 1,000 cr

Nearly 9.28 crore equity shares of online food delivery platform Zomato worth Rs 1,040 crore were offloaded on Friday in a bulk deal, likely by SoftBank.

Japanese investment giant SoftBank, via its affiliate SVF Growth (Singapore) Pte, likely sold 1.09% stake in Zomato in the bulk deal, taking the online food delivery platform’s stock up more than 2% in the opening trade on the BSE. Shares exchanged hands at an average price of Rs 111.20. SoftBank held a 2.17% stake in Zomato (by September 2023 quarter).