Mumbai: Japanese investment holding firm SoftBank is aiming to divest a 1.1% share in the Indian food delivery service Zomato through a block deal valued at 11.28 billion rupees ($135.36 million), as per sources cited by CNBC-TV18 on Thursday.
The specified floor price for Zomato's shares is established at 120.50 rupees each, representing a nearly 1% reduction compared to the stock's most recent closing price.
The company is set to offload a stake in Zomato, India's leading online food delivery service, for the third time since August. An equivalent stake was previously sold in October.
In November, the Chinese payments conglomerate Alipay divested its complete 3.44% stake in the food delivery platform via block deals.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
