Zomato Sees Rs 5,438.50 Crore Block Deal as Antfin Singapore Likely Sells Stake

• Zomato's shares worth Rs 5,438.50 crore were sold in a block deal on August 20, with Antfin Singapore Holding likely being the seller.
• The transaction involved 21 crore shares, representing a 2.4 percent stake, sold at a floor price of Rs 258 apiece, a nearly 2 percent discount over the previous closing price.
• Following the deal, Zomato's shares fell over 1 percent, trading at Rs 259.20 on the NSE at 09.21 am.
• Antfin Singapore Holding, a subsidiary of Alibaba Group, owned a 4.3 percent stake in Zomato and the sale triggers a 90-day lock-in period before another equity dilution.
• The stake sale follows Zomato's quarterly earnings report, which showed a net profit surge of 126.5 times to Rs 253 crore, driven by increased platform fees and improved operational profitability in Blinkit.

Source: Moneycontrol