SoftBank likely to sell Zomato shares as lock-in period ends: Sources

SoftBank owns 3.35% stake in Zomato which it was issued during the Blinkit deal

Softbank, an investor in food delivery aggregator Zomato is likely to sell its shares through block deals soon as the lock-in period for investors after Blinkit deal ends on August 25, sources with knowledge of the matter said.

These shares could be sold on bourses via block deals, sources said. As a result, the shares received during the Blinkit deal will unlock for trading on Monday, August 28 as part of the 12-month lock-in period.

SoftBank owns 3.35 percent stake in Zomato, which it was issued during the Blinkit deal for selling its holding to the company.

E-mail queries sent to Zomato and SoftBank did not eleicit and response at the time of filing the story.

To be sure, implied value of shares of Zomato which SoftBank received via Blinkit deal stood at Rs 70.76 per share.

Zomato's scrip is now trading around Rs 90 per share, assuring profit from the sale. Sources also added that investment banks are building a book to capture demand for Zomato shares.

Three Venture Capital firms had a lock-in period as part of the deal, SoftBank, Sequoia and Tigerglobal.