Shares of Zomato slipped over 2% in trade on the back of a large block deal. Around 19 crore shares or 2.2% equity changed hands in the large block deal worth Rs 3,112 crore at an average share price of Rs 160.
According to reports, quoting sources, AntFin Singapore is the likely seller in the Zomato block deal today and was expected to sell a 2% stake worth Rs 2,800 crore. Post this block deal, AntFin cannot sell any further stake in Zomato for the next 90 days amid a lock-in period applicable to them.
Zomato share price slipped 2.4% to Rs 161.80 in the morning trade after the large block deal. However, in the last several months, Zomato has been a multibagger stock for investors, delivering returns of almost 200% in the last one year.
As of 9:20 AM, Shares of Zomato were down 2.5% at Rs161.35 on the NSE.
