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SoftBank Vision Fund (SVF) has divested a 1.17% ownership stake in the food delivery unicorn Zomato on Wednesday.

The transaction involved the sale of 100 million shares at a unit price of Rs 94.7 through bulk deals as per Reuters.

This pins the deal value at Rs 947 crore.

Zomato shares closed at Rs 99.70 at the end of the trading day today, jumping 5.28% from the previous day’s close.

Notable entities such as the International Monetary Fund, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs (Singapore), Invesco Mutual Fund, and Kotak Mahindra Life Insurance were among the purchasers of Zomato shares in this sale.

The Masayoshi Son-led investment firm, which had earlier invested in Blinkit, received a 3.35% stake in Zomato as part of the foodtech’s merger with the grocery delivery platform.

The Japanese investor received Zomato shares at an implied value of Rs 70.76 per share.

As part of the agreement, SoftBank, Sequoia Capital, and Tiger Global were subject to a mandatory lock-in period.

The shares were unlocked for trading on August 25.

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Zomato’s shares surge 11% after announcing first-time profit in Q1

On Monday, Tiger Global Management fully exited from the food delivery company after selling all of its remaining shares for Rs 1,123.85 crore.

The global investment firm’s Internet Fund III PTE Ltd offloaded 12.34 crore shares at a price of Rs 91.01 each, as indicated by data on bulk deals available on the BSE.

Tiger Global’s exit followed Chinese giant Alibaba’s partial sale of its stake in Zomato last year.

Additionally, in August of the preceding year, Uber executed its exit from the Deepinder Goyal-led company by selling its 7.8% stake for Rs 3,087.93 crore. On the same day, investment firm Fidelity Investments and ICICI Prudential Life Insurance Company both acquired stakes in Zomato, as per data available on the BSE.