Zomato Block Deal: On August 20, shares of food aggregator Zomato worth Rs 5,438.50 crore were sold in a block deal, which was later upsized. The likely seller was Antfin Singapore Holding, a subsidiary of the Alibaba Group.
According to a Moneycontrol report, 21 crore shares, representing a 2.4 percent stake in the online food delivery platform, changed hands during the transaction.
The deal was executed at a floor price of Rs 258 per share, reflecting a discount of nearly 2 percent from the stock’s previous closing price.
On August 19, CNBC-TV18 reported that Antfin Singapore Holding was looking to sell a 2 percent stake in Zomato, valuing the shares at $556 million (Rs 4,650 crore).
Earlier reports indicated that Antfin was planning to offload a 1.54 percent stake, valued at $408 million.
According to Zomato’s latest shareholding data, Antfin Singapore Holding held a 4.3 percent stake in the food delivery platform. Following the stake sale, a 90-day lock-in period will be triggered, preventing Antfin from conducting another round of equity dilution during that time.
The stake sale follows Zomato’s impressive quarterly earnings, where net profit soared 126.5 times to Rs 253 crore in the April-June quarter compared to last year. This profit surge was fueled by higher platform fees charged to consumers and enhanced operational profitability in its quick commerce division, Blinkit.
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