Uber likely to sell its 7.8% stake in Zomato for Rs 2,938 cr
New Delhi
02-August-2022

Photo: IANS
Uber is likely to sell its 7.8 per cent stake in online food delivery platform Zomato that could be worth around Rs 2,938 crore ($373 million), multiple reports said on Tuesday.
The offer is expected to come with a price range of Rs 48-54 per share, equivalent to 612 million or 7.8 per cent of total outstanding shares.
CNBC TV18 was first to report on the development.
Uber received a stake in Zomato after selling off its food delivery business in India to the food aggregator in a transaction in 2020.
Zomato shares closed 19.96 per cent up, at Rs 55.60 on Tuesday.
Its stock has lost over 60 per cent of it value this year.
Zomato reported Rs 185.7 crore in consolidated loss for the quarter ending June 30, compared to a loss of Rs 359.7 crore in the previous quarter. - IANS
Watch This TWL Video
More Headlines
US Tariff Hike Hits Tamil Nadu Seafood Exports, Shrimp Firms Slash Production by 50%
Tamil Nadu CM Stalin Seeks Emergency Relief for Exporters Hit by US 50% Tariffs
Coimbatore ATS Seizes 2 Tonnes of Gelatin Sticks, Driver Arrested in Madukkarai
Vijay’s Madurai Show Draws Lakhs, But Aftermath Tells A Mixed Story
NDA Trying To Snatch People's Rights, Destroy Democracy, Says Tejashwi Yadav
US Tariff Hike Hits Tamil Nadu Seafood Exports, Shrimp Firms Slash Production by 50%
Tamil Nadu CM Stalin Seeks Emergency Relief for Exporters Hit by US 50% Tariffs
Coimbatore ATS Seizes 2 Tonnes of Gelatin Sticks, Driver Arrested in Madukkarai
Vijay’s Madurai Show Draws Lakhs, But Aftermath Tells A Mixed Story
NDA Trying To Snatch People's Rights, Destroy Democracy, Says Tejashwi Yadav