SoftBank to sell 10 crore shares in Zomato at Rs 94/share via block deal: Report

SoftBank Vision Fund is likely to sell 1.17% stake it holds in Zomato for Rs 940 crore via block deal, reported CNBC TV-18. The 1.17% stake involves 10 crore shares at Rs 94 per share.

As per CNBC-TV18, Kotak Securities will be broker to the deal.

This comes just a day after Tiger Global's Internet Fund III Pte sold entire 1.4% stake in Zomato through open market transactions on Monday. It sold the 1.4% stake it got as a result of the Blinkit merger for $136 million.

The New York-based firm sold 12.35 crore shares at Rs 91.01 apiece to raise about Rs 1,124 crore. Tiger had invested $111 million in Blinkit, which represents 22% profit.

Earlier this month, Zomato posted its first-ever profit, helped by a tax gain and strong orders in its food and grocery delivery businesses.