Japanese multinational investment holding company SoftBank's venture capital fund SVF Growth (Singapore) is all set to sell as many as 93,569,368 shares or 1.1 per cent stake in Zomato on Friday.
According to reports, the deal is expected to go through at a floor price range of Rs 109.4 to Rs 111.65. The shares of the popular food delivery platform closed 1.37 per cent lower at Rs 111.65 on Thursday.
The deal could take place at Thursday's closing price of Rs 111.65 or at two per cent discount at Rs 109.4.
According to CNBCTV18, Kotak Securities Ltd is managing the sale.
The deal is expected to give SVF Growth about Rs 1,023.6 crore if the sale happens at the lower rate of Rs 109.4.
Both Zomato and SoftBank are yet to come out with comments on the sale deal.
Zomato had recently received a 'buy' call from Kotak Institutional Equities with a target price of Rs 125.
