“SoftBank’s SVF Growth Fund to Unload 1.1% Stake in Zomato, Targeting INR 1,023.6 Cr in Strategic Share Sale”

SoftBank’s SVF Growth Fund is set to divest a 1.1% stake in Zomato, a leading player in the Indian foodtech industry. The strategic move, scheduled for Friday, October 20, aims to generate a substantial sum of at least INR 1,023.6 Cr ($123 Mn), as reported by CNBC-TV18.

According to sources, SoftBank’s SVF Growth Fund, based in Singapore, plans to offer 9.3 Cr shares of Zomato within the per-share price range of INR 109.4 to INR 111.65. Notably, at the lower end of this price spectrum, the proposed transaction signifies a discount of over 2% compared to the stock’s closing price on October 19.

This planned share sale comes on the heels of SoftBank’s recent divestment of a 1.16% stake in Zomato, amounting to INR 947 Cr, executed through open-market transactions just a couple of months prior. The current stake sale is being facilitated by Kotak Securities, acting on behalf of the investors involved.

As SoftBank strategically adjusts its investment portfolio, the Zomato stake sale showcases the dynamic landscape of the tech investment sector, reflecting market trends and the evolving strategies of key players.

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