Kuwait, Singapore sovereign funds place orders for Zomato share

Even as the likes of Tiger Global, Ant Financial and SoftBank have exited their positions in Zomato, large sovereign investors from jurisdictions such as Kuwait and Singapore have raised their stakes in the food-delivery company, pushing up its stock price by as much as 160% in the last one year.

In August, New York-based Tiger Global sold its remaining 1.44% stake in Zomato, making a full exit from the company. Masayoshi Son-led SoftBank followed in December, selling off its remaining stake in the Gurugram-based firm.