Antfin Singapore Holding on Tuesday divested over a 2 per cent stake in Zomato, the online food delivery firm, for over ₹4,771 crore through open market transactions.

Antfin Singapore Holding Pte is an arm of Ant Financial Group. The latter is a part of Chinese e-commerce giant Alibaba.

Bulk deal data available from the BSE showed Antfin Singapore Holding offloading 18,54,40,550 shares. These were done in two tranches, of 92,720,275 shares each. It amounted to a 2.1 per cent stake in Zomato.

The shares were sold at ₹257.17 per share and ₹257.46 apiece, taking the transaction value to ₹4,771.66 crore.

For the quarter ended June 30, 2024, Antfin held 4.24 per cent in Zomato. Therefore, after the share sale, its stake has reduced to 2.14 per cent.

The details of buyers of Zomato’s shares were not available.

Shares of Zomato ended with gains of 0.27 per cent to close at ₹263 on the BSE. It currently has a market cap of ₹2,32,242.21 crore.

In March this year, Antfin Singapore Holding had pared a 2 per cent stake in Zomato for ₹2,827 crore. These transactions come as the Zomato scrip has climbed more than 186 per cent in the last one year.

Earlier this month, the company had reported a jump in consolidated net profit to ₹253 crore for the April-June quarter of 2024-25 against ₹2 crore in the same period of the previous year. Zomato’s revenue from operations rose more than 74 per cent to ₹4,206 crore in the period from ₹2,416 crore in the year-ago quarter.

The reporting segments for the group include the food ordering and delivery business, Hyperpure Supplies (B2B), its quick commerce offering Blinkit, the going out segment and all other residual segments.

In a letter to shareholders, Zomato chief financial officer Akshant Goyal said that during the quarter, its gross order value growth across the B2C businesses (food delivery, quick commerce and going-out) accelerated to 53 per cent over the previous year (14 per cent on a sequential basis) to ₹15,455 crore.