Ad-H Ad-H

Zomato’s weightage in FTSE indices to rise to 24.9% from August 11


Ad P


Restaurant aggregator and food delivery company Zomato’s weighting in FTSE indices will go up, following a raft of share sales by pre-initial public offering investors.

The global index provider has announced the investability weight for Zomato will be increased from 17.12 per cent to 24.9 per cent in the FTSE All-World Index with effect from August 11.

The move will result in the buying of around 20 million Zomato shares by funds tracking FTSE indices.

Shares of Zomato gained 2 per cent to close at Rs 55.6.

In the past two weeks, Moore Strategic Ventures, Uber, and Tiger Global sold stakes in Zomato, following the end of a one-year lock-up.


mail Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



First Published: Mon, August 08 2022. 17:43 IST





Source link

Leave a Comment