Bulk Deals: China's Antfin sells over 2% stake in Zomato for ₹160.40 per share
Zomato through bulk deals on Wednesday, March 6, according to data available on BSE. Antfin offloaded a total of 176.4 million shares of the company within the price range of ₹160.11 to ₹160.40 per share. The Chinese company held a 6.32% stake in the quick commerce services provider, as of December 2023.
On the other hand, Morgan Stanley acquired 56.8 million shares of Zomato at a price of ₹160.10 per share, the data revealed. According to data available with the NSE, in December 2023, SoftBank's venture capital fund SVF Growth (Singapore) PTE Ltd divested a 1.1 percent stake in the online food delivery service Zomato. The sale involved the offloading of 9,35,69,368 Zomato shares at an average price of ₹120.50.
This divestment follows similar actions taken by SVF Growth in previous months, including the sale of comparable shares in October 2023 at an average price of ₹111.20 and the divestment of 10,00,00,000 shares in August 2023 at an average price of ₹94.70. In November 2023, Alipay Singapore Holding, a subsidiary of the Chinese e-commerce powerhouse Alibaba, divested its complete 3.44% equity stake, amounting to 29,60,73,993 shares, in the online food delivery platform through open market transactions, generating a sum of ₹3,337 crore. Among the purchasers of Zomato shares were ICICI Prudential Life Insurance Company, Morgan Stanley, India Acorn ICAV, Société Générale, Government of Singapore, Monetary Authority of Singapore, Goldman Sachs (Singapore) Pte, Government Pension Fund Global, and Veritas Asset Management, among others.
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