Shares of Zomato will be in focus tomorrow as Antfin Singapore is likely to offload shares via a large block deal tomorrow, according to media reports. The floor price of the block deal is set at Rs 251.6 per share, a report from CNBC-TV18 said. The block deal is likely to happen at a 4% discount from the closing price on NSE today.
At this price, the block deal is expected to be valued at approximately $408 million, or ₹3,420 crore.
At the close of the June quarter, Antfin Singapore Holding Pte. Ltd. owned a 4.24% stake in the company. Based on Monday’s closing price, this stake in Zomato is valued at approximately ₹10,000 crore.
The selling shareholder will be subject to a 90-day lock-in period before any additional shares can be sold.
Morgan Stanley and Goldman Sachs are reportedly acting as the placement agents for the block deal.
