Sequoia now holds a 4.4% stake in the Gurugram-based company, according to a disclosure to the BSE by Zomato on Friday.
Sequoia first sold shares in Zomato between September 6 and October 14 last year. When
Zomato made its debut on the national bourses in 2021, Sequoia held 50.26 crore equity shares, which represented 6.41% of its total share capital.
In the latest sale – made between June 27 and August 25 this year, Sequoia sold another 10.52 crore shares.
On August 10, Sequoia Capital India received 4.51 crore incremental equity shares after Zomato acquired quick commerce startup Blinkit.
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Sequoia first invested in Zomato in 2013 in a round that valued the company at over $150 million.
According to BSE, 97.51% of Zomato’s shares are held by the public, including institutions (about 23%), and non-institutions such as Info Edge (13.98%), and other VCs.
Other sales
Since the one-year lock-in period ended on July 23, high-profile investors and shareholders in Zomato, including
Tiger Global and Moore Strategic Ventures, have sold their shares in the company.
Normally, all the shares held by pre-IPO investors are subject to a one year lock-in period, meaning they cannot sell the shares for at least a year. However, the lock-in period did not apply to Sequoia due to a special exemption from this rule for foreign venture capital investors (FVCI) and select category Alternative Investment Funds (AIFs).
Earlier this month,
Uber Technologies exited its entire 7.8% stake in Zomato by selling 612 million shares through multiple block deals.
The US mobility service provider raised around Rs 3,088 crore, or $390 million, through the sale.
