Alipay Sells Entire Stake In Zomato For Rs 3,337 Crore

Chinese e-commerce giant Alibaba's arm, Alipay Singapore Holding, has sold its entire 3.44% stake in online food delivery aggregator Zomato for Rs 3,337 crore through open market transactions. The shares were purchased by various entities, including ICICI Prudential Life Insurance Company, Max Life Insurance, Aditya Birla Sun Life Mutual Fund MF, Birla MF, Morgan Stanley, India Acorn ICAV, Societe Generale, Government of Singapore, Monetary Authority of Singapore, Goldman Sachs Singapore Pte, Government Pension Fund Global, and Veritas Asset Management.

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Block Deal Details

Alipay Singapore Holding Pte sold more than 29.60 crore shares of Zomato in 31 tranches on the BSE. According to the block deal data available with BSE, the company offloaded a total of 29,60,73,993 shares, amounting to a 3.44% stake in Zomato. The shares were sold at an average price of Rs 112.7 apiece, taking the combined transaction value to Rs 3,336.75 crore.

Shareholding Pattern

At the end of the September quarter, Alipay Singapore Holding Pte owned a 3.44% stakeholding in Zomato, shareholding data pattern showed with the bourse. After the latest transaction, Alibaba, through its affiliate Antfin Singapore Holding Pte Ltd, owns a 6.39% stake in the Gurugram-based company.

Previous Sale

Last year in November, Alipay Singapore pared a 3.07% stake in online food delivery aggregator Zomato for Rs 1,631 crore through an open market transaction.

Stock Performance

On Wednesday, shares of Zomato rose 2.55% to close at Rs 116.70 apiece on the BSE. In October, Japanese conglomerate Softbank divested a 1.09% stake in Zomato for Rs 1,040 crore through an open market transaction.

The sale of Alipay's stake in Zomato is a significant development in the Indian online food delivery market. It remains to be seen how this will impact the company's operations and growth in the coming quarters.