Uber sold its entire 7.78% stake in Zomato for $392 million in bulk deal

August 4, 2022

, By Team SNFYI

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As expected, ride-hailing giant Uber Technologies sold its entire 7.78% stake in Zomato for $392 million in a bulk transaction on Wednesday. According to BSE data, two institutional investors, Fidelity and ICICI Prudential Life Insurance, purchased stakes in the loss-making company.

Uber sold all of its 61.22 crore Zomato shares for Rs 50.44 per share. Fidelity Investment Trust Fidelity Series Emerging Markets Fund purchased 5.44 crore shares of Zomato in a bulk transaction at an average price of Rs 50.26 per share, while ICICI PrudentialLife Insurance purchased 4.5 crore shares at an average price of Rs 50.25 per share. According to reports, nearly 20 global and Indian funds purchased a stake in the food-tech firm in a bulk transaction on Wednesday.

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Uber sold its entire 7.78% stake in Zomato for $392 million in bulk deal

August 4, 2022

, By Team SNFYI

As expected, ride-hailing giant Uber Technologies sold its entire 7.78% stake in Zomato for $392 million in a bulk transaction on Wednesday. According to BSE data, two institutional investors, Fidelity and ICICI Prudential Life Insurance, purchased stakes in the loss-making company.

Uber sold all of its 61.22 crore Zomato shares for Rs 50.44 per share. Fidelity Investment Trust Fidelity Series Emerging Markets Fund purchased 5.44 crore shares of Zomato in a bulk transaction at an average price of Rs 50.26 per share, while ICICI PrudentialLife Insurance purchased 4.5 crore shares at an average price of Rs 50.25 per share. According to reports, nearly 20 global and Indian funds purchased a stake in the food-tech firm in a bulk transaction on Wednesday.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

Rewards and loyalty startup Twid raised $12 million in Series A led by Rakuten Capital

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MeitY intends to conduct a quarterly compliance audit of social media platforms

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