This London bank made profit from Zomato on the go, share price went up after selling stocks worth Rs 940 crore

Looks like good days have come for food delivery company Zomato. After registering profit, growth is already being seen in the share price of the company. Now a London bank has sold the company's shares and the company has benefited from this in the form of increase in share price.

London-based investment bank 'SVF Global', which showed confidence in the initial years of food delivery company Zomato, has now left the company. SoftBank Vision Fund (SVF) had shares of Zomato worth about Rs 940 crore, which the financial firm has now sold. Its benefit is visible in the form of growth in the share price of Zomato.

SVF Global sold 10 crore shares of Zomato on Wednesday. The sale of these shares has been done in the form of a block deal at a price of Rs 94.7. In this way, the benefit of issue of shares worth Rs 947 crore has been visible in the form of growth in the share price of the company.

Zomato shares rose 5 percent

Trading in Zomato's stocks increased due to the release of a large number of shares of the company. Due to this, the stock of Zomato climbed up to 5 percent at the time of the beginning of the market and went beyond Rs.99.

Apart from this, Tiger Global Management, another investor firm of Zomato, has also sold its entire 1.44 percent stake in a bulk deal. This deal was worth around Rs 1123 crore. In this way, the shares of Zomato registered a sharp rise on Wednesday.

Shares were received from Blinkit deal

Zomato had acquired grocery delivery firm Blinkit last year. During this deal, SoftBank Vision Fund got a total stake of 3.35 percent in Zomato. Under this deal, SoftBank could not sell the shares held by it till August 25, so at the end of the term, it sold some of its stake in Zomato. SoftBank has sold 1.17 percent stake in Zomato.