SoftBank seeks to offload shares worth $135 million in India's Zomato - CNBC-TV18
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The logo of Indian food delivery company Zomato is seen on its app on a mobile phone displayed in front of its company website in this illustration picture taken July 14, 2021. REUTERS/Florence Lo/Illustration/File Photo
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BENGALURU (Reuters) - Japan's SoftBank is seeking to sell a 1.1% stake in the Indian food delivery platform Zomato through a block deal worth 11.28 billion rupees ($135.36 million), CNBC-TV18 reported on Thursday, citing sources.
The floor price for Zomato's shares is set at 120.50 rupees apiece, the report added, a near 1% discount to the stock's last closing price.
This is the third time since August that SoftBank will offload its stake in Zomato, India's largest online food delivery service. It sold a similar stake in October.
Zomato and SoftBank did not immediately respond to Reuters' requests for comment.
Last month, Chinese payments group Alipay also offloaded its entire 3.44% stake in the food delivery platform through block deals.
