Ant Fin Singapore sells 2% stake in Zomato for ₹2,827 crore

Antfin Singapore Holding Pte is an affiliate of Ant Financial Group, while the latter is a part of Chinese e-commerce giant Alibaba.

According to the bulk deal data available on the BSE, Antfin Singapore Holding Pte offloaded more than 17,63,95,675 shares in two tranches, representing a 2.02% stake in Zomato.

The shares were sold within the price range of ₹160.11-160.40 apiece, taking the deal size to ₹2,827.08 crore.

After the latest transaction, Antfin Singapore Holding Pte’s shareholding has reduced to a 4.3% stake in Zomato from a 6.32% stake (as of December 2023) in the company.
Security Quantity Price Value (Rs Cr)
ZOMATO MORGAN STANLEY ASIA (SINGAPORE) PTE. B 56811443 160.1 909.55
ZOMATO ANTFIN SINGAPORE HOLDING PTE. LTD. S 97010000 160.4 1556.04
ZOMATO ANTFIN SINGAPORE HOLDING PTE. LTD. S 79385675 160.11 1271.04
Source: BSE

Concurrently, Morgan Stanley Asia (Singapore) acquired a 0.65% stake in Zomato, purchasing 5.68 crore shares for ₹909.55 crore. Following the transactions, Zomato’s stock witnessed a 2.68% decline to ₹161.60 apiece on the BSE.

This move follows Zomato’s recent positive financial performance, with a consolidated net profit of ₹138 crore in the third quarter, largely attributed to the rapid growth of quick commerce.

Based on the December quarter shareholding pattern, Antfin Singapore Holding Pte. Ltd. held a 6.42% stake in Zomato.

In November last year, 3.4% of Zomato’s equity had changed hands in a block deal worth ₹3,326.4 crore, where another Alibaba unit, Alipay Singapore Holding Pte had a cleanout trade.

Zomato’s shares have more than doubled from their IPO price of ₹76 after the street rewarded the food delivery company after it turned profitable. It has now delivered a positive bottomline for three quarters in a row. Zomato also received multiple brokerage upgrades after turning profitable.