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

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

By: Sreejit Kumar

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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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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By Sreejit Kumar

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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Previous article
Rewards and loyalty startup Twid raised $12 million in Series A led by Rakuten Capital
Next article
MeitY intends to conduct a quarterly compliance audit of social media platforms
Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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