Alipay Singapore Holding exits Zomato, sells 3.44 pc stake worth Rs 3,337 cr

Alipay Singapore Holding, an arm of Chinese e-commerce giant Alibaba, on Wednesday divested its entire 3.44 per cent stake in online food delivery aggregator Zomato for Rs 3,337 crore through open market transactions.

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, among others were the buyers of shares of Zomato.

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, Alipay Singapore Holding Pte offloaded a total of 29,60,73,993 shares, amounting to a 3.44 per cent 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.

At the end of the September quarter, Alipay Singapore Holding Pte owned 3.44 per cent 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 per cent stake in the Gurugram-based company.

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

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

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)