Uber May Sell Its 7.8 Percent Stake in Zomato

Zomato,Uber

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.

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