The shares of Zomato on Wednesday ended with losses of over 2.50 per cent after Ant Financial offloaded a part of its stake via open market deals.
Bulk deal data from the BSE showed Antfin Singapore Holding Pte selling shares of the food delivery aggregator in two transactions.
It sold 79.3 lakh shares at Rs 160.11 apiece for Rs 1,271 crore and 97.01 lakh shares at Rs 160.40 per share for Rs 1,556 crore.
Cumulatively, the two transactions were worth Rs 2827 crore, comprising nearly 2.05 per cent of Zomato’s equity. The identity of the buyers was not available.
For the quarter ended December 31, 2023, Ant Financial held 6.32 per cent of the online food ordering platform.
The Zomato share was under pressure on account of the deal as it slumped over 5 per cent to hit a day’s low of Rs 157.70 on the BSE.
The counter later recovered some of these losses to end at Rs 161.60, a drop of Rs 4.45 or 2.68 per cent. On the NSE, it ended 2.50 per cent lower at Rs 161.70.
Zomato has given good returns to its shareholders over the past one year. The stock rose from Rs 53.96 in March last year. The company posted its first consolidated net profit of Rs 2 crore in the first quarter of June 30, 2023.
In the third quarter, which ended December 31, 2023, it recorded a consolidated net profit of Rs 138 crore.
