SoftBank has been offloading its stake in Indian new age companies in recent months. The investment firm has also sold a substantial stake in Paytm.
The shares will be sold at a price of Rs 120.50 per share.
SoftBank, in another tranche, is likely to sell Zomato shares worth $135 million via a block deal, sources told CNBC TV-18. In rupee terms, this amounts to Rs 1,125.5 crore.
The shares will be sold at a price of Rs 120.50 per share. Earlier in the day, the stock closed at Rs 121.80, up 2.44 percent on BSE.
It was not immediately clear who will be the buyers in this transaction.
Earlier, in October through its affiliate SVF Growth Singapore Pte, SoftBank had sold a 1.09 percent equity stake in Zomato in a bulk deal worth Rs 1,040.5 crore. That came after 1.17 percent stake sale in Zomato in August.
As of September-end, the latest data reported by the Zomato, SoftBank held 2.17 percent in the food delivery services provider.
SoftBank has been offloading its stake in Indian new age companies in recent months. The investment firm has also sold a substantial stake in Paytm.
During the September quarter, Zomato recorded a second consecutive quarter of net profit at Rs 36 crore, while revenue rose 71 percent to Rs 2,848 crore. The consistent focus on earnings has brought new investors to the stock, while giving an opportunity to existing ones to exit at a profit.
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.
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