Fidelity International acquired 5% stake in Zomato, sending the stock up more than 4%

Share via:

Zomato shares raised more than 4% on the BSE on Tuesday, closing at INR 64.65 per share. Meanwhile, Fidelity International, a financial services firm, informed stock exchanges that it had acquired a 5% stake in the foodtech behemoth through open market transactions.

According to the filing, funds managed by Fidelity’s FMR LLC and its direct and indirect subsidiaries, as well as FIL Ltd and its direct and indirect subsidiaries, purchased over 40 Cr shares, or 5.06% stake, in Zomato on the open market on August 18. This is good news for the food aggregator because its shares have been under pressure in the last month, with big names like Uber, Moore, and Tiger Global exiting the company after the lock-in period for its pre-IPO investors expired.

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.

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.

Popular

More Like this

Fidelity International acquired 5% stake in Zomato, sending the stock up more than 4%

Zomato shares raised more than 4% on the BSE on Tuesday, closing at INR 64.65 per share. Meanwhile, Fidelity International, a financial services firm, informed stock exchanges that it had acquired a 5% stake in the foodtech behemoth through open market transactions.

According to the filing, funds managed by Fidelity’s FMR LLC and its direct and indirect subsidiaries, as well as FIL Ltd and its direct and indirect subsidiaries, purchased over 40 Cr shares, or 5.06% stake, in Zomato on the open market on August 18. This is good news for the food aggregator because its shares have been under pressure in the last month, with big names like Uber, Moore, and Tiger Global exiting the company after the lock-in period for its pre-IPO investors expired.

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.

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.

More like this

Nomination Deadline for the 4th Annual TravelTech Middle East...

Pioneering the Future of Travel and Tourism Here’s your window...

Creative Intell Inc. Launches Creative Intell Academy for the...

Creative Intell, the investor-backed company building a suite  of...

GGTech hires new CPO and Head of Global Sales...

GGTech Entertainment, an international company dedicated to the organisation...

Popular

Upcoming Events

London Climate Technology Show | Sep 26-27

An unparalleled platform for climate technology innovators, policymakers and businesses at large to accelerate...

Startup Summit 2023 | October 6

INDIA STARTUP SUMMIT AND STARTUP ACHIEVERS’ AWARDS - 2023

Startup Information that matters. Get in your inbox Daily!