HomeStorySoftBank Likely To Exit Zomato With 1.1% Stake Sale

SoftBank Likely To Exit Zomato With 1.1% Stake Sale

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SoftBank Likely To Exit Zomato With 1.1% Stake Sale
  1. SVF Growth (Singapore) Pte Ltd, a SoftBank entity, previously held a 2.17% stake in Zomato, of which it sold 1.1% stake in October. Now, the firm is reportedly planning to sell another 1.1% stake in Zomato.
  2. The sale is anticipated to be executed as a block deal worth $135 million, with SVF Growth intending to offload its shares at INR 120.5 apiece.
  3. The proposed sale price of INR 120.5 per share represents a slight discount compared to Zomato’s closing price of INR 121.8 on the BSE at the end of Thursday’s trading session.
  4. Zomato, the Indian food delivery and restaurant discovery platform, saw its shares close at INR 121.8 on the Bombay Stock Exchange (BSE) as of the mentioned date.
SourceINC 42

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