 "Zomato's weightage in FTSE indices to rise to 24.9% from August 11")
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.
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