SoftBank Likely To Trim Zomato Stake Worth Rs 1,125 Cr In Block Deal: Report

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Reportedly, the shares will be sold at a price of Rs 120.50 per share. (Representative image)

As of September-end SoftBank held 2.17 percent in the food delivery services provider.

SoftBank is reportedly planning to sell another chunk of its Zomato shares through a block deal, worth approximately $135 million (around Rs 1,125.5 crore).

According to a report by CNBC TV-18, the shares will be sold at a price of Rs 120.50 per share.

It was not immediately clear who will be the buyers in this transaction, the report added.

In October, SoftBank, through its affiliate SVF Growth Singapore Pte, completed a bulk deal selling a 1.09 percent equity stake in Zomato for Rs 1,040.5 crore. This transaction followed a 1.17 percent stake sale in Zomato in August.

As of September-end, the latest data reported by Zomato, SoftBank still holds a 2.17% stake in the food delivery company.

SoftBank has been divesting its holdings in Indian innovative companies in the past few months, with the investment firm also disposing of a significant portion of its stake in Paytm.

So far this year, share price of Zomato has jumped 102 percent. Though the stock is still far away from all time high of Rs 169.

Earlier in the day, Zomato’s stock closed at Rs 121.80, up 2.44 percent on BSE.

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