SoftBank’s enterprise capital fund SVF Development, Singapore, will promote a 1.1% stake in Indian meals supply firm Zomato for 10.24 billion rupees ($123.24 million), CNBC TV-18 reported on Thursday, citing sources.
SVF Development will promote the stake at a suggestion worth of Rs 109.4 to Rs 111.65 per share, at a reduction of two% to the present market worth on the decrease finish, the report added.
Zomato and SoftBank didn’t instantly reply to a Reuters request for remark.
In August, SoftBank’s Imaginative and prescient Fund offered a 1.17% stake in Zomato in a deal value Rs 9.47 billion at Rs 94.7 apiece in wholesale offers.
US-based personal fairness agency Tiger World, additionally in August, offered its remaining Rs 11.24 billion stake within the firm after slicing its stake by 2.34% final yr.
Zomato shares are up 88.3% up to now this yr and closed 1.4% decrease on Thursday.
(Solely the title and picture of this report could have been reworked by Enterprise Commonplace workers; the remainder of the content material is auto-generated from a syndicated feed.)
First revealed: October 19, 2023 | 7:49 pm he
(tags for translation)Softbank Fund