Antfin Singapore Holding on Wednesday pared a 2% stake in online food delivery firm Zomato for Rs 2,827 crore through open market transactions.

Antfin Singapore Holding is an affiliate of Ant Financial Group, while the latter is a part of Chinese ecommerce giant Alibaba.

According to the bulk deal data available on the BSE, Antfin Singapore Holding offloaded more than 17,63,95,675 shares in two tranches, representing a 2.02% stake in Zomato.

The shares were sold within the price range of Rs 160.11-160.40 apiece, taking the deal size to Rs 2,827.08 crore.

After the latest transaction, Antfin Singapore Holding's shareholding has reduced to a 4.3% stake in Zomato from a 6.32% stake (as of December 2023) in the company.

Meanwhile, Morgan Stanley Asia (Singapore) acquired 5.68 crore shares, amounting to a 0.65% stake in Gurugram-based Zomato Ltd.

The shares were purchased at an average price of Rs 160.10 apiece, taking the transaction value to Rs 909.55 crore, as per the data.

Details of the other buyers could not be ascertained.

Shares of Zomato fell 2.68% to settle at Rs 161.60 apiece on the BSE.

On February 8, Zomato reported a consolidated net profit of Rs 138 crore in the third quarter ended December 31, 2023, on the back of accelerated growth of quick commerce and steady performance of its core business.

The company posted a consolidated net loss of Rs 347 crore in the same quarter last fiscal. Its consolidated revenue from operations stood at Rs 3,288 crore. It was at Rs 1,948 crore in the year-ago period.

In November last year, Alipay Singapore Holding, an arm of Chinese conglomerate Alibaba, divested its entire 3.44% stake in food delivery aggregator Zomato for Rs 3,337 crore.

Edited by Megha Reddy

QOSHE - Antfin Singapore sells 2% stake in Zomato for Rs 2,827 Cr - Press Trust Of India
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Antfin Singapore sells 2% stake in Zomato for Rs 2,827 Cr

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07.03.2024

Antfin Singapore Holding on Wednesday pared a 2% stake in online food delivery firm Zomato for Rs 2,827 crore through open market transactions.

Antfin Singapore Holding is an affiliate of Ant Financial Group, while the latter is a part of Chinese ecommerce giant Alibaba.

According to the bulk deal data available on the BSE, Antfin Singapore Holding offloaded more than 17,63,95,675 shares in two tranches, representing a........

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