On Wednesday, almost 10 crore zomato shares—or 1.17 percent of the company's equity—changed hands for a total transaction value of roughly Rs 947 crore. According to CNBC TV18, the SVF Growth Fund of the Japanese corporation SoftBank is the likely seller in this large deal. SVF Growth Fund may sell 10 crore shares of the firm, or 1.17 percent of the entire stock, in block sales at a price of Rs 94 per share, according to a previous report.
With over 28 crore shares, SVF Growth (Singapore) Pte. Ltd. held a 3.35 percent interest in Zomato. After the block transaction, zomato shares were trading at Rs 100 and were around Rs 98.45 in the morning. A second foreign institutional investor, tiger Global Management, sold all of its 1.44 percent stake in zomato in a previous block auction on Monday. tiger Global received a total of Rs 1,123.85 crore from the transaction.
Through its venture capital vehicle Internet vehicle III Pte Ltd, a US-based investing giant discontinued the online meal delivery service Zomato. At an average price of Rs 91.01 per share, the venture capital company sold about 12.34 crore shares, or 1.44 percent of Zomato. Brokerage company HSBC kept its buy recommendation on zomato and increased its price objective from Rs. 102 to Rs. 120.
In the long run, hyperlocal can help zomato grow its company significantly, according to the letter. According to a recent report by JM Financial Institutional Securities, Zomato's stock is likely to be volatile in the near future due to market speculation about potential exits by some pre-IPO shareholders (VC/PE/Chinese investors) of the company as well as former shareholders of Blinkit who received it as part of a share swap deal.
With over 28 crore shares, SVF Growth (Singapore) Pte. Ltd. held a 3.35 percent interest in Zomato. After the block transaction, zomato shares were trading at Rs 100 and were around Rs 98.45 in the morning. A second foreign institutional investor, tiger Global Management, sold all of its 1.44 percent stake in zomato in a previous block auction on Monday. tiger Global received a total of Rs 1,123.85 crore from the transaction.
Through its venture capital vehicle Internet vehicle III Pte Ltd, a US-based investing giant discontinued the online meal delivery service Zomato. At an average price of Rs 91.01 per share, the venture capital company sold about 12.34 crore shares, or 1.44 percent of Zomato. Brokerage company HSBC kept its buy recommendation on zomato and increased its price objective from Rs. 102 to Rs. 120.
In the long run, hyperlocal can help zomato grow its company significantly, according to the letter. According to a recent report by JM Financial Institutional Securities, Zomato's stock is likely to be volatile in the near future due to market speculation about potential exits by some pre-IPO shareholders (VC/PE/Chinese investors) of the company as well as former shareholders of Blinkit who received it as part of a share swap deal.
