By Aditi Shah and Aditya Kalra
NEWDELHI -Uber Applied sciences is the probably vendor of a 7.8% stake in Indian meals supply agency Zomato being disposed of through a $373 million block deal on Wednesday, in accordance with a supply with direct information of the matter.
The provide dimension of 612 million shares price $373 million is predicated on the decrease finish of a 48-54 rupee value vary set for the block deal, a time period sheet seen by Reuters acknowledged, including that will be at a 2.8%-13.6% low cost to the most recent shut.
Zomato and Uber didn't instantly reply to a request for remark. Shares in Zomato rose 20% to 55.55 rupees on Tuesday.
BofA Securities is the only bookrunner for the deal. The time period sheet didn't identify the potential vendor.
On Monday, Zomato stated it had recorded extra orders and narrowed its loss for the June quarter to 1.86 billion rupees ($23.67 million) from 3.56 billion rupees a yr earlier.
Uber on Tuesday reported a internet lack of $2.6 billion for second quarter of 2022, of which $1.7 billion was associated to its fairness investments, together with its Zomato stake.
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