Zomato slumps 4% after Rs 3,112-crore block deal, Ant Group arm likely seller

Antfin Singapore Holdings Pte held a 6.42 percent stake in Zomato, the company’s latest shareholding data shows. After the stake sale, Antfin will be left with a 4.32 percent holding in the food delivery platform

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Shares of Zomato fell 4 percent in opening deals on March 6 after around 19 crore shares, accounting for a 2.1 percent stake, in the food aggregator changed hands in a Rs 3,112-crore block deal. The shares were bought at an average price of Rs 160 apiece, a 3.5 percent discount from the previous close.

At 09.20 am, shares of Zomato traded at Rs 160.80 on the NSE.

Though Moneycontrol could not immediately identify the buyers and sellers involved in the transaction, CNBC-TV18 reported on March 5 that China’s Ant Group’s arm Antfin Singapore Holdings Pte was looking to unload up to 2 percent stake in the food and grocery delivery platform.

The floor price for the block deal was likely Rs 159.4 per share, taking the total transaction value close to Rs 2,800 crore, the report said.

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Antfin Singapore Holdings Pte held a 6.42 percent stake in Zomato, the company’s latest shareholding data shows. After the stake sale, Antfin will hold 4.32 percent in Zomato.

The block deal comes at a time when sentiment for the food-delivery platform is getting strong.

The stock hit a record high on March 4 on the back of the company’s improving profitability and strong growth outlook.

In the past three months, the scrip has rocketed over 42 percent, making Zomato the most valuable new-age tech stock with a market capitalisation of Rs 1.46 lakh crore.

Also Read | Ant Group arm likely to sell up to 2% stake in Zomato for Rs 2,800 cr via block deal

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