News on Medial

Zomato Shares Surge More Than 5% Amidst Reports of Block Deal Activity

Inc42 · 1y

After the lock-in period ended, Zomato's Blinkit deal shares were made available for trading. 18.4 crore shares were traded within INR 92.20 to INR 94.00. Investors like SoftBank, Tiger Global, and Peak XV were under the lock-in period. SoftBank holds a 3.55% stake, receiving shares from the Blinkit deal. Zomato shares rose over 5.5% to INR 96. The foodtech company achieved profitability in Q1 FY24. It expanded platform fees and increased charges to enhance profitability.