Foodtech industry leader Zomato has seen yet another investor sells shares. According to Zomato’s disclosures to the Bombay Stock Exchange, Sequoia sold 171.9 million shares of the company, or around 2.01% of all equity shares, on the open market (BSE).
Following Zomato’s initial public offering (IPO) in July 2021, Sequoia executed the sale in two tranches, first selling the shares between September 6 and October 14 of last year. This year, the US-based venture capital firm sold shares between June 27 and August 25. Currently, Sequoia holds 375,895,935 shares of the market leader in foodtech, or roughly 4.40%.
