Softbank Vision Growth Fund sells 10 crore Zomato shares in block transaction 

SoftBank Vision Growth Fund has sold 10 crore shares of the online food delivery app Zomato through a block auction on Tuesday, August 29. The total transaction value is Rs 940 crore ($113 million), and shares were sold for Rs 94 ($1.14) each, according to a report by CNBC-TV18.

As compensation for selling its holding to Zomato last year, SoftBank received a 3.35 percent stake in the company, which it now owns. Zomato acquired the fast-grocery delivery startup Blinkit at the time. The lock-in period for investors after the Blinkit deal ended on August 25.

According to the bulk deals data made available on the Bombay Stock Exchnage (BSE)and the National Stock Exchange (NSE), Tiger Global Management, another significant foreign investor in Zomato, sold all of its stake amounting to 1.44 per cent for Rs 1,123.85 crore ($135 million).

The venture capital fund operated by the US-based investment manager, Internet Fund III Pte Ltd, sold the shares through open market transactions.

As per stock exchange records, US-based private equity fund Tiger Global also sold its final shares of Zomato on Monday.

Data from BSE indicates that, the private equity firm sold 123.5 million shares in bulk for Rs 91.01 ($1.10) each, with buyers including Morgan Stanley Asia Singapore, Kotak Mahindra Mutual Fund, Societe Generale, and BNP Paribas Arbitrage Fund.

Tiger Global made its initial Zomato investment in 2020 and acquired Zomato shares as part of the Blinkit transaction last year. In August 2022, the private equity group reduced its ownership in Zomato.

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