Sequoia Capital Reduces Holding In Zomato

Venture capital firm Sequoia Capital has reduced its holding in Zomato Ltd to 4.4 per cent after selling shares in open market, according to a regulatory filing by the online food delivery platform.

Sequoia Capital had held a 6.41 per cent stake in Zomato before the sale. 

In a regulatory intimation by Sequoia Capital filed on the BSE by Zomato, Sequoia Capital India Growth Investment Holdings I sold 6.67 crore shares in the period from September 6, 2021, to October 14, 2021, and another 2.12 crore shares in the open market between June 27, 2022 to August 25, 2022.

Similarly, SCI Growth Investments II also sold 8.34 crore shares between June 27, 2022, to August 25, 2022, it added.

Subsequently, Sequoia's holding in Zomato has come down to 37.59 crore shares carrying 4.4 per cent voting rights, the filing said. 

Zomato shares declined by 0.81 per cent to trade at Rs 61.55 in afternoon session on BSE.