“Zomato’s 3.4% Equity Block Deal Worth Rs 3,326.4 Crore: Alipay Reportedly Sellers”
A significant block deal of around 29.7 crore shares in Zomato transpired, marking a 3.4% stake shift at a value of Rs 3,326.4 crore, with reports hinting at China-based Alibaba Group’s Alipay as the seller. The deal reflects a one percent discount to Tuesday’s closing price, impacting Zomato’s stock movement.
In a notable transaction on November 29, a substantial block deal unfolded in the Indian stock market, involving approximately 29.7 crore shares of Zomato, signaling a 3.4% equity shift. The deal, executed at a floor price of Rs 112 per share, amounted to a total value of Rs 3,326.4 crore, slightly discounted by one percent from the stock’s previous day closing price of Rs 113.80.
Following this significant development, Zomato’s shares displayed marginal gains as trading commenced. By 09:19 AM, the stock was trading slightly over 1% higher at Rs 115.05 on the National Stock Exchange (NSE).
While immediate details of the involved parties were not readily available, CNBC-TV18 had earlier reported indications suggesting China-based Alibaba Group’s Alipay might be divesting its stake in the Gurugram-headquartered company. The report mentioned Alipay’s purported intent to offload a 3.4% stake at a floor price of Rs 111.28 per share. Additionally, post the stake sale, a 90-day lock-in period for further share transactions is anticipated.
Alibaba Group, through its affiliates Antfin Singapore Holding Pte and Alipay Singapore Holding Pte, currently holds a notable 9.83% stake in Zomato, according to the company’s shareholding data from the September quarter. Recent times have seen shifts in ownership within Zomato, with Japanese private equity firm SoftBank also parting with a portion of its stake. In mid-October, SoftBank executed an open market sale, divesting a 1.1% stake in the food delivery aggregator.
This transaction reflects a significant movement in Zomato’s ownership landscape, potentially indicating strategic realignment among key stakeholders in the burgeoning Indian food delivery sector.
Sources By Agencies
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يتجلى تفاني المصنع في الجودة في الأداء المتفوق لأنابيب HDPE ، والمعروفة بقوتها ومتانتها الاستثنائية.
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