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Fidelity International acquired 5% stake in Zomato, sending the stock up more than 4%

On the BSE on Tuesday, Zomato shares increased by more than 4%, closing at INR 64.65 per share. Financial services company Fidelity International alerted stock exchanges that it had purchased a 5% interest in the foodtech titan through open market transactions.

On August 18, about 40 Cr shares, or 5.06% of Zomato, were purchased on the open market by funds managed by Fidelity’s FMR LLC and its direct and indirect subsidiaries, as well as FIL Ltd and its direct and indirect subsidiaries.

This is good news for the food aggregator because in the previous month, its shares have been under pressure as a result of high-profile exits from the business by Uber, Moore, and Tiger Global after the lock-in period for its pre-IPO investors expired.

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