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REUTERS/Florence Lo/

AZB & Partners has advised Uber on the $392 million sale of its 7.8 percent stake in Indian food delivery company Zomato.

According to Reuters, the stake sale comes at a time when Indian startups are struggling to raise fresh capital amid a global market slump and criticism of sky-high valuations, after a blockbuster $35 billion in total fundraisings in 2021.

The AZB team was led by Mumbai partners Ashwath Rau and Jasmin Karkhanis.

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

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