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SoftBank's plan to sell a portion of its stake in Zomato

Aug 30, 2023

By: BlinkX Research Team

SoftBank's subsidiary, Svf Growth (Singapore) Pte. Ltd, is planning to sell a portion of its stake in Zomato Ltd on August 30th. This stake amounts to 1.17% of Zomato's shares. The sale of this stake is projected to generate ₹940 crore (approximately $114 million) for SoftBank.

Svf Growth originally held a 3.42% stake in Zomato. However, due to a lock-in period that followed Blinkit's acquisition (concluded on August 25th), only a portion of that stake can be sold. The ownership transfer of the stake from SoftBank to Zomato is related to Zomato's acquisition of a quick commerce company in 2022.

The minimum price for the block deal (a large-scale transaction of shares) is set at ₹94 per share. This price is slightly lower than the closing price of Zomato's shares on the Bombay Stock Exchange (BSE) the previous day. The sale of shares is being managed by Kotak Securities Ltd on behalf of the investors.

Source: Media Reports