Uber may sell its 7.8 per cent stake in online food delivery platform Zomato, which could be valued at around Rs 2,938 crore ($373 million). The offer is expected to come with a price range of Rs 48-54 per share, which equates to 612 million or 7.8 per cent of the total outstanding shares.
CNBC TV18 Was the First to Report on the Development
Uber got a stake in Zomato after selling its food delivery business in India to the food aggregator in a transaction in 2020.
Shares of Zomato closed at Rs 55.60 with a gain of 19.96 per cent on Tuesday.
Its Share Price Has Fallen More Than 60 Percent This Year
Zomato posted a consolidated loss of Rs 185.7 crore for the quarter ended June 30, as against a loss of Rs 359.7 crore in the previous quarter.