Alipay Sells Zomato Stake for Rs 3,337 Cr
By Rediff Money Desk, NEWDELHI Nov 29, 2023 20:58
Alipay Singapore Holding, an arm of Alibaba, divested its entire 3.44% stake in Zomato for Rs 3,337 crore. This comes after SoftBank also sold its stake in Zomato.
![Alipay Sells Zomato Stake for Rs 3,337 Cr](https://im.rediff.com/money/2023/feb/19zomato1.jpg)
Photograph: Francis Mascarenhas/Reuters
New Delhi, Nov 29 (PTI) Alipay Singapore Holding, an arm of Chinese e-commerce giant Alibaba, on Wednesday divested its entire 3.44 per cent stake in online food delivery aggregator Zomato for Rs 3,337 crore through open market transactions.
ICICI Prudential Life Insurance Company, Max Life Insurance, Aditya Birla Sun Life Mutual Fund (MF), Birla MF, Morgan Stanley, India Acorn ICAV, Societe Generale, Government of Singapore, Monetary Authority of Singapore, Goldman Sachs (Singapore) Pte, Government Pension Fund Global and Veritas Asset Management, among others were the buyers of shares of Zomato.
Alipay Singapore Holding Pte sold more than 29.60 crore shares of Zomato in 31 tranches on the BSE.
According to the block deal data available with BSE, Alipay Singapore Holding Pte offloaded a total of 29,60,73,993 shares, amounting to a 3.44 per cent stake in Zomato.
The shares were sold at an average price of Rs 112.7 apiece, taking the combined transaction value to Rs 3,336.75 crore.
At the end of the September quarter, Alipay Singapore Holding Pte owned 3.44 per cent stakeholding in Zomato, shareholding data pattern showed with the bourse.
After the latest transaction, Alibaba through its affiliate Antfin Singapore Holding Pte Ltd owns a 6.39 per cent stake in the Gurugram-based company.
Last year in November, Alipay Singapore pared a 3.07 per cent stake in online food delivery aggregator Zomato for Rs 1,631 crore through an open market transaction.
On Wednesday, shares of Zomato rose 2.55 per cent to close at Rs 116.70 apiece on the BSE. In October, Japanese conglomerate Softbank divested a 1.09 per cent stake in Zomato for Rs 1,040 crore through an open market transaction.
ICICI Prudential Life Insurance Company, Max Life Insurance, Aditya Birla Sun Life Mutual Fund (MF), Birla MF, Morgan Stanley, India Acorn ICAV, Societe Generale, Government of Singapore, Monetary Authority of Singapore, Goldman Sachs (Singapore) Pte, Government Pension Fund Global and Veritas Asset Management, among others were the buyers of shares of Zomato.
Alipay Singapore Holding Pte sold more than 29.60 crore shares of Zomato in 31 tranches on the BSE.
According to the block deal data available with BSE, Alipay Singapore Holding Pte offloaded a total of 29,60,73,993 shares, amounting to a 3.44 per cent stake in Zomato.
The shares were sold at an average price of Rs 112.7 apiece, taking the combined transaction value to Rs 3,336.75 crore.
At the end of the September quarter, Alipay Singapore Holding Pte owned 3.44 per cent stakeholding in Zomato, shareholding data pattern showed with the bourse.
After the latest transaction, Alibaba through its affiliate Antfin Singapore Holding Pte Ltd owns a 6.39 per cent stake in the Gurugram-based company.
Last year in November, Alipay Singapore pared a 3.07 per cent stake in online food delivery aggregator Zomato for Rs 1,631 crore through an open market transaction.
On Wednesday, shares of Zomato rose 2.55 per cent to close at Rs 116.70 apiece on the BSE. In October, Japanese conglomerate Softbank divested a 1.09 per cent stake in Zomato for Rs 1,040 crore through an open market transaction.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Sebi Proposes New...](https://im.rediff.com/80-80/money/2021/apr/09mf2.jpg)
Sebi Proposes New Asset Class for Investors...
Sebi proposes a new asset class between mutual funds and PMS for investors with Rs...
![Himadri...](https://im.rediff.com/80-80/money/2023/aug/07chemical.jpg)
Himadri Speciality Q1FY'25 Profit Jumps 40% to...
Himadri Speciality Chemical Ltd (HSCL) reported a 40% YoY jump in net profit to Rs 123...
![FlixBus Partners...](https://im.rediff.com/80-80/money/2019/jan/09paytm-1.jpg)
FlixBus Partners with Paytm to Expand Travel...
FlixBus partners with Paytm to expand its distribution network, making tickets...