Uber likely to sell 7.8 pc stake in Zomato for USD 373 mln

Updated: Aug 2 2022 9:03PM

Mumbai, Aug 2 (PTI) Ride-hailing app Uber is selling off its entire holding in Indian food delivery company Zomato for at least USD 373 million (Rs 2,939 crore) through a block deal of shares, merchant banking sources said on Tuesday.

The development comes on a day when the Zomato scrip witnessed a nearly 20 per cent surge to close at Rs 55.60 apiece on the BSE.

The sources said the offer price range for the deal to be carried out on Wednesday will be between Rs 48-54 per share.