Advertisement
Singapore markets open in 1 hour 53 minutes
  • Straits Times Index

    3,426.47
    -3.98 (-0.12%)
     
  • S&P 500

    5,459.10
    +59.88 (+1.11%)
     
  • Dow

    40,589.34
    +654.24 (+1.64%)
     
  • Nasdaq

    17,357.88
    +176.18 (+1.03%)
     
  • Bitcoin USD

    67,993.12
    -398.11 (-0.58%)
     
  • CMC Crypto 200

    1,374.36
    +43.75 (+3.29%)
     
  • FTSE 100

    8,285.71
    +99.36 (+1.21%)
     
  • Gold

    2,394.40
    +13.40 (+0.56%)
     
  • Crude Oil

    77.34
    +0.18 (+0.23%)
     
  • 10-Yr Bond

    4.2000
    -0.0560 (-1.32%)
     
  • Nikkei

    37,667.41
    -202.09 (-0.53%)
     
  • Hang Seng

    17,021.31
    +16.31 (+0.10%)
     
  • FTSE Bursa Malaysia

    1,612.88
    -2.30 (-0.14%)
     
  • Jakarta Composite Index

    7,288.17
    -7,240.28 (-49.84%)
     
  • PSE Index

    6,726.01
    +55.74 (+0.84%)
     

REFILE-UPDATE 2-SoftBank fund to sell $123 mln stake in India's Zomato - report

(Corrects headline to say "SoftBank", not "Softbank")

BENGALURU, Oct 19 (Reuters) - SoftBank's venture capital fund SVF Growth, Singapore, will sell a 1.1% stake in Indian food delivery firm Zomato for 10.24 billion rupees ($123.24 million), CNBC TV-18 reported on Thursday, citing sources.

SVF Growth will sell the stake at an offer price of 109.4 rupees to 111.65 rupees per share, a 2% discount to its current market price at the lower end, the report added.

SoftBank did not immediately respond to a Reuters request for comment. Zomato declined to comment.

In August, SoftBank's Vision Fund sold a 1.17% stake in Zomato in a deal valued at 9.47 billion rupees at 94.7 rupees apiece in bulk deals.

U.S.-based private equity firm Tiger Global, also in August, sold its remaining 11.24 billion rupees stake in the company after cutting 2.34% stake last year.

Zomato shares have gained 88.3% so far this year and closed 1.4% lower on Thursday.

($1 = 83.0928 Indian rupees) (Reporting by Manvi Pant in Bengaluru; Editing by Sonia Cheema and Nivedita Bhattacharjee)