Uber’s stake in Zomato is 9.19 percent, whose current value is more than 9500 crores. Uber got this stake by selling Uber Eats to Zomato.
Uber has more than 9 percent stake.
There was a bumper listing of food delivery company Zomato in the stock market, due to which the cab provider Uber has earned thousands of crores. The surprising thing is that Uber has not directly invested a single rupee in the company. At 2 o’clock in the afternoon, the stock of Zomato was trading at a level of Rs 132.15 with a gain of 4.88%.
At present, the market cap of Zomato is Rs 103,713 crore. Uber’s stake in the company is 9.19 percent. Accordingly, this valuation is more than 9500 crores. In January 2020, Zomato acquired the India operations of Uber Eats from Uber. It was a non-cash deal with a value of Rs 1376 crore. In this, GST of 248 crore was included separately.
9.19 percent stake was received
Under the deal, Zomato issued 76,376 CCCPS i.e. preferential shares to Uber. The value of each share was Rs 1 lakh 80 thousand 153. Later Uber India transferred this preference share to Uber BV. Later Uber Biwi converted that preference share into 61 crore 21 lakh 99 thousand 100 shares of Zomato. This resulted in 9.19 percent stake in Zomato. In this way, Uber’s stake in Zomato is 9.19 percent, whose current value is more than 9500 crores.
Info Edge holds the highest stake
After the listing of Zomato, the market value of the investment of Info Edge, the company’s largest stakeholder, has crossed 15000 crores. The company’s founder Deependra Goyal holds a 4.7 percent stake. The valuation of his share is close to $ 650 million.
Ok our team has sent me a revised estimate. The thesis remains the same – invest more in startups pic.twitter.com/ZGHAAkxUWj
— Sanjeev Bikhchandani (@sbikh) July 23, 2021
Info Edge invested in Zomato very early. In 2010, it had earlier invested 4.7 crores. Earlier its stake in the company was 18.50 per cent, out of which it sold 2.32 per cent stake under offer for sale. Now its stake has come down to 16.18 per cent. Chinese billionaire Jack Ma’s company Ant Group also holds a 16.50 percent stake in the company.
Also read, After bank privatization, now big news is coming about Insurance Privatisation, this preparation is going on in Parliament
Also read, Gold can be costlier by Rs 5000 till Diwali, Rs 9000 cheaper than all time high now, know today’s latest price
.