Antfin Singapore pares stake in foodtech co Zomato
This is the second block deal after Antfin slashed its stake in March earlier this year following scrutiny and growing tensions between China and India.
Alibaba Group unit Antfin Singapore on Tuesday sold 18.54 crore shares of Zomato in block deals as it tries to pare its stake in the foodtech giant amid scrutiny on Chinese investments.
Shares worth Rs 4771.65 crore changed hands in two separate block deals, according to submissions made with BSE. It sold shares at Rs 257.46 and Rs. 257.17 apiece, at a discount to the day's closing price of 263.12 rupees.
Antfin Singapore Holding is an affiliate of Ant Financial Group, while the latter is a part of Chinese ecommerce giant Alibaba. The company held a 4.3% in Zomato as of the last quarter. It halved its stake to 2.2% according to exchange data.
This comes after Antfin sold a 2% stake in the company for Rs 2,827 crore in March. In November 2023, Chinese payments firm Alipay sold its entire 3.44% stake in Zomato for Rs 3,336 Crore.
Shares of Deepinder Goyal-led Zomato closed 0.39% higher at Rs Rs 263.20 apiece.
This comes after its peer Swiggy gears up for public debut as it plans to file its DRHP for its $1.4 billion IPO in the first week of September. Sriharsha Majety-led Swiggy is eyeing a valuation of 60% of Zomato’s market capitalisation.
Edited by Affirunisa Kankudti