New Block Deal in Zomato: 1.17% stake sold in Zomato for Rs 947Cr: Report

Shares of food tech giant Zomato surged by over 5% on the bourses after multiple block deals were witnessed, consisting of 10 crore shares or a 1.17% stake, sold at an average floor price of Rs 94.70 per share.

The parties involved in the transaction remain unclear However, it is speculated that Softbank might have sold its 1.17% stake in the company for Rs 940 crore.

Last week, Tiger Global sold a 1.44% stake in the food tech giant for Rs 1,123.85 crore via open market transactions, marking its complete exit from the company.

Zomato reported its first-ever profit of Rs 2 crore in the first quarter of FY24, resulting in its share price significantly increasing in the past 30 days