FILE PHOTO: 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

SoftBank seeks to offload shares worth $135 million in India's Zomato - CNBC-TV18

· CNA · Join

BENGALURU : Japan's SoftBank is seeking to sell a 1.1 per cent 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 per cent 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 per cent stake in the food delivery platform through block deals.

($1 = 83.3330 Indian rupees)