SoftBank, through its affiliate SVF Growth Singapore Pte, has sold a 1.09% equity stake in Zomato in a bulk deal worth Rs 1,040.5 crore. This comes after SoftBank offloaded a 1.17% stake in Zomato in August. The Japanese investor has been reducing its stake in Zomato as the lock-in period for the post-Blinkit deal ended in August. SoftBank has also been reducing stakes in other companies, including PB Fintech and Paytm.
Marquee funds, including Citigroup, Axis MF, Bandhan MF, ADIA, Fidelity, Goldman Sachs, Morgan Stanley, and Motilal Oswal among others bought stakes in the company through the deal. In August this year, SoftBank offloaded about 1.17% Zomato stake under a block deal, which was valued at Rs 947 crore. Back then, Morgan Stanley, Nomura, Kotak Mahindra MF, Invesco MF, Goldman Sachs, Franklin Templeton MF, Avendus, and Societe Generale, among others picked up the stake.
Stocks such as Jio Financial Services, HDFC Bank, Zomato, Bharti Airtel, HDFC Life Insurance, Reliance Industries (RIL) and Larsen & Toubro (L&T) were among stocks that saw huge block deals this week. Watch this Visual Story to know more.
SoftBank Vision Fund (SVF Global) was looking to offload 1.17 per cent stake that in holds in food delivery giant for Rs 940 crore via a block deal, a report suggested