Uber sells 7.8% stake in Zomato via block deals

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The American mobility service provider raised around ₹3,088 crore or $390 million at nearly 100% profit. In January 2020, Zomato had acquired Uber Eats’ India operations in a non-cash deal, following which Uber received a 9.19% stake in the restaurant discovery platform for around $200 million.

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The combined market valuation of all the top-10 most valued firms plunged Rs 4,95,061 crore last week, in line with a bearish trend in equities,

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