In a significant development, approximately 29.7 crore shares of Zomato, equivalent to a 3.4 percent stake, were involved in a block deal on November 29. The transaction unfolded at a floor price of Rs 112 per share, marking a one percent discount compared to the stock’s Tuesday closing price of Rs 113.80. The total value of this substantial deal amounted to Rs 3,326.4 crore.
Reports circulating on CNBC-TV18 suggested that Alibaba Group’s Alipay, hailing from China, was the key player behind this stake sale in the Gurugram-based food delivery giant. The disclosed details indicate that Alipay sought to divest its 3.4 percent stake at a floor price of Rs 111.28 per share. Additionally, the report hinted at the imposition of a 90-day lock-in period for any subsequent share transactions post the completion of Alipay’s stake sale.
As of 12:18 pm, Zomato’s shares were trading 3.87% higher at ₹118.20.
