Zomato shares jump 5% as 1.16% equity traded via block deal; Softbank likely seller

Shares of food delivery app Zomato jumped 5% to day’s high of Rs 99.60 on a likely block deal in the pre-opening trade on Wednesday which saw 1.16% stake changing hands.

ETNow reported at least six block deals involving 10 crore shares getting transacted. Japanese technology investor SoftBank Vision Fund is expected to have offloaded its shares in the food and grocery delivery company. The block deal is expected to be worth approximately Rs 940 crore, indicating that SoftBank will sell the shares at Rs 94 apiece.