SoftBank looking to sell stake in Zomato via block deal: Report
Japanese tech giant SoftBank is likely to offload Zomato shares soon as the lock-in for the post-Blinkit deal ends today, according to CNBC-TV18.
On the exchanges on Friday, about 51 lakh shares of Zomato changed hands in a block, taking the stock over 2% lower.
Zomato issued fresh equity shares to all the selling shareholders of Blinkit as consideration for the M&A last year. Following the transaction, Zomato had negotiated a 12-month lock-in for these shares, compared to the statutory lock-in requirement of six months.