Private Equity

Liquidity Events

SoftBank divests 1.17% stake in Zomato for Rs.947-Cr

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SoftBank Vision Fund (SVF) has divested a 1.17% ownership stake in the food delivery platform Zomato. The transaction involved the sale of 10 crore shares at a unit price of INR 94.7 through bulk deals, aggregating to INR 947 crore. The International Monetary Fund (IMF), Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs (Singapore), Invesco Mutual Fund, and Kotak Mahindra Life Insurance were among the purchasers of Zomato shares in this sale. SoftBank, which had earlier invested in Blinkit, received a 3.35% stake in Zomato as part of the acquisition of the grocery delivery platform. The Japanese investor received Zomato shares at an implied value of INR 70.76 per share. SoftBank, Sequoia Capital, and Tiger Global were subject to a mandatory lock-in period as part of the agreement. The shares were unlocked for trading on August 25.