After Uber, Tiger International Sells 2.34 P.c Stake in Zomato

Zomato on Thursday claimed investment agency Tiger Global has decreased its stake in the company by just about 50 % to 2.77 percent by offering about 18.45 crore shares in the open sector.

Tiger Global’s Net Fund VI Pte Ltd experienced a holding of 5.11 p.c in the on line food items supply platform ahead of the sale.

Concerning July 25- August 2, 2022, the fund bought more than 18.45 crore shares aggregating to 2.34 percent stake in the corporation in the open industry, Zomato claimed in a regulatory filing.

Article the sale, Web Fund VI Pte Ltd has 2.77 % stake in Zomato, it included.

On Wednesday, ride-hailing app Uber experienced offloaded 61.2 crore shares of Zomato for Rs. 3,088 crore by an open up marketplace transaction.

The shares ended up disposed of at an common price of Rs. 50.44 apiece, having the transaction price to Rs. 3,087.93 crore.

Uber picked up the stake in Zomato soon after the latter acquired its regional foods enterprise UberEats in an all-stock offer in 2020.

Reuters claimed on Tuesday that the offer you measurement of the block deal was established to be for 612 million shares, according to its expression sheet, which did not disclose the seller.

Just one of the sources mentioned the stake was purchased by around 20 world and Indian cash, together with Fidelity, Franklin Templeton and India’s ICICI Prudential.

Fidelity could not instantly be attained for comment, even though Franklin and ICICI declined to remark.

In the meantime, shares of Zomato fell up to 6.8 per cent on Wednesday, in their biggest drop in additional than a week. The inventory minimize some losses and was buying and selling down 2.6 % by 0614 GMT.

BofA Securities was the sole bookrunner for Wednesday’s transaction.

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