SoftBank’s venture capital fund SVF Growth, Singapore, will sell a 1.1% stake in Indian food delivery firm Zomato for 10.24 billion rupees ($123.24 million), CNBC TV-18 reported on Thursday, citing sources.
SVF Growth will sell the stake at an offer price of 109.4 rupees to 111.65 rupees per share, a 2% discount to its current market price at the lower end, the report added.
SoftBank did not immediately respond to a Reuters request for comment. Zomato declined to comment.
In August, SoftBank’s Vision Fund sold a 1.17% stake in Zomato in a deal valued at 9.47 billion rupees at 94.7 rupees apiece in bulk deals.
U.S.-based private equity firm Tiger Global, also in August, sold its remaining 11.24 billion rupees stake in the company after cutting 2.34% stake last year.
Zomato shares have gained 88.3% so far this year and closed 1.4% lower on Thursday.
Reuters