iconiifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Ant Group pares all stake in Zomato for Rs 3,336 crore

30 Nov 2023 , 10:13 AM

On Wednesday, China's Alipay sold its entire 3.5% investment in meal delivery business Zomato in a block deal for around Rs 3,336 crore.

According to the exchanges' block deal data, Alipay Singapore Pte has sold a 3.5% share in the firm. The deal was completed at a price of Rs 112.7 per unit.

Morgan Stanley and Bank of America were the advisors to the deal.

Goldman Sachs, Vanguard, Societe Generale, Fidelity Investments, Morgan Stanley, and ADIA were among the funds that picked up the shares.

With a 98.18% holding, public shareholders own the majority stake in Zomato. Mutual funds own around 10.5% of the firm, while foreign direct investment owns 17.08%. Meanwhile, as of September 30, foreign portfolio investors held 35.89% of the stock.

SoftBank of Japan sold a 1.1% share in Zomato, India's largest meal delivery business, in October. Online ordering has increased quickly in recent years, pushing firms like Zomato to aggressively expand.

Alipay's withdrawal from Zomato comes on the heels of other Chinese investors reducing their interest in Indian companies. China's Antfin sold a 10.3% interest in Paytm, the Indian financial powerhouse, in August.

Zomato shares have nearly quadrupled this year as a result of stronger financial results in the previous two quarters. While the firm declared a surprise profit for the first time in the June quarter, results improved much more in the September quarter.

For feedback and suggestions, write to us at editorial@iifl.com

explored-media

Related Tags

  • Ant Group
  • Zomato news
  • Zomato share price
  • Zomato Stake
  • Zomato Updates
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

4 Mar 2024   |   09:10 AM
4 Mar 2024   |   06:22 PM
4 Mar 2024   |   08:40 AM
4 Mar 2024   |   06:37 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.