On Wednesday, SoftBank sold a portion of its ownership in meal delivery website Zomato in bulk transactions. The sale was completed at Rs 94.7 per share, bringing the total deal value to Rs 947 crore.
According to exchange statistics, SoftBank Vision Fund sold 10 crore shares, or 1.17% of the company, after the lock-in period for the post-Blinkit deal expired this week. SVF Growth (Singapore) Pte Ltd owned 3.35% of the company at the end of June.
Furthermore, Morgan Stanley, Nomura, Kotak Mahindra MF, Invesco MF, Goldman Sachs, Franklin Templeton MF, Avendus, and Societe Generale acquired stakes in the company.
As part of the M&A last year, Zomato granted new equity shares to all selling Blinkit shareholders. Following the sale, Zomato negotiated a 12-month lock-in period for these shares, as opposed to the six-month statutory lock-in period.
The majority of these shares are held by three venture capital firms: Softbank, Sequoia, and Tiger Global.
Tiger Global exited Zomato on Monday by selling its whole share through its affiliate Internet Fund III Pte.
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