Uber made a billion dollars from Zomato’s listing, without spending a single penny

• Uber has made a whopping ₹9,000 crore on its shareholdings in Zomato
• Uber’s stake in Zomato was a result of the $350 million acquisition of Uber Eats.
• Info Edge’s stake in the company has surged to ₹15,000 crore.

The market value of Uber’s stake in the newly-listed company Zomato has surged to a whopping ₹9,000 crore ($1.2 billion) without investing a single penny in the food aggregator business.

Uber has never made any investment in Zomato. It’s 9.19% shareholding was a result of Zomato’s $4of UberEats India business back in 2020.

Hands down, Uber was the top gainer with Zomato’s listing due to these factors. In addition, it also got rid of a liability (Uber Eats India). Overall, the Uber Eats sell-off has made Uber over a billion dollars easily.

The market value of shares held by Info Edge, which is the largest stakeholder in the company, also surged to $4. Meanwhile, Deepinder Goyal’s holdings have surged to more than ₹5,500 crore.

Zomato made a strong debut on the stock exchanges on Friday, July 23. The company’s shares opened at ₹116 on the national stock exchange (NSE), representing more than a 51% premium over the issue price of ₹76.

The company’s market cap breached ₹1 lakh crore at 10.16 a.m, only 16 minutes after listing.

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