Uber exits Zomato by selling 7.8% stake, two biggies buy stakes

Uber Technologies on Wednesday sold its entire 7.78 per cent stake in Zomato in a bulk deal on the BSE in which two institutional investors - Fidelity and ICICI Prudential Life Insurance - bought stakes in the new-age stock

Uber sold 61.22 crore shares of Zomato, that it had earned in 2020 by selling Uber Eats in an all-stock deal, today at a price of Rs 50.44 per share.

Fidelity's emerging market fund bought 5.44 crore shares of Zomato today in the bulk deal at an average price of Rs 50.26. ICICI Prudential Life Insurance bought 4.5 crore shares at Rs 50.25 per share.

Zomato's June quarter shareholding pattern shows that Uber owned 7.78 per cent stake in the company by owning 61.22 crore shares.

Earlier in the day, Reuters reported that the list of buyers included around 20 global and Indian funds, including Franklin Templeton, in the transaction done through BofA Securities.