Ant Group arm divests 3.4% in Zomato for Rs 3,337 crore
Ant Group sold a 3.4% stake in Zomato for ₹3,337 crore on Wednesday through a series of deals on the exchanges.
According to BSE bulk deals data, Alipay Singapore Holdings, an entity of the Ant Group, sold 297 million shares at ₹112.70 per share.
Zomato's shares ended 2.55% higher at ₹116.70 on the BSE on Wednesday. As of September 30, 2023, Alipay Singapore Holdings held a 3.44% stake.
Another entity of the Ant Group, Antfin Singapore Holdings, held a 6.39% stake in the company.
Some of the buyers in the transactions include Morgan Staley, Fidelity, the Government of Singapore, Franklin Templeton Mutual Fund, BofA Securities, Societe Generale, and Vanguard, among others.
Alipay invested $360 million in Zomato in 2018 and held a total of 777 million shares in the startup, according to inc42.com. However, just prior to Zomato's IPO in July 2021, Alibaba's payment affiliate sold 218 million shares.
