Uber is the first major share holder of Zomato to cash out after one year lock up on its pre IPO shares which had ended last month. The sale comes close on 35% jump in Zomato's shares.
Uber sold its 7.77% stake in domestic food delivery company Zomato to mop up Rs. 3088 crore. A total of 612 million shares were sold at Rs. 50.44 per piece.
Zomato got listed in July 2021 and hit a peak marker cap of Rs. 1.26 trillion which had currently declined to Rs. 43655 crore. Zomato does not have any Promoter. The shareholding of its founders and all investors could weigh on shares of the company.
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