Softbank Sells 1.1% Stake in Zomato for Rs 1,128 Cr

New Delhi, Dec 8 (PTI) Japanese conglomerate Softbank on Friday divested a 1.1 per cent stake in online food delivery aggregator Zomato for Rs 1,128 crore through an open market transaction.

Following the stake sale, shares of Zomato fell 1.27 per cent to close at Rs 120.15 apiece on the NSE.

Invesco Mutual Fund (MF), Sundaram MF, Edelweiss MF, ICICI Prudential Life Insurance, Goldman Sachs (Singapore), Morgan Stanley Asia Singapore, Societe Generale, BNP Paribas Arbitrage, Copthall Mauritius Investment, and Citigroup Global Markets Investment, among others were the buyers of the Zomato's share.

SVF Growth (Singapore) Pte, an affiliate of Softbank, offloaded 9,35,69,368 shares, amounting to a 1.08 per cent stake in Zomato, as per the block deal data available with the National Stock Exchange (NSE).

The shares were sold at an average price of Rs 120.50 apiece, taking the combined deal size to Rs 1,127.51 crore.

After the latest transaction, Softbank's shareholding has declined to 1.09 per cent from a 2.17 per cent stake in Zomato.

In October, Softbank offloaded a 1.09 per cent stake in online food delivery platform Zomato for Rs 1,040 crore through an open market transaction.

In August, Softbank pared a 1.16 per cent stake in Zomato for Rs 947 crore through an open market transaction.