Tiger Global on Monday exited Zomato when it sold a 1.44 per cent stake for nearly Rs 1,124 crore. Apart from Tiger Global, another foreign investor — Yuri Milner’s DST Global — sold around 0.4 per cent of the food delivery platform. The joint value of both these deals stood at over Rs 1,400 crore.
Stock exchange data showed Tiger Global, which held these shares through its affiliate Internet Fund III Pte, and DST Global, via Apoletto Asia Ltd, selling the shares on the BSE and the NSE.
While Tiger Global offloaded around 12.34 crore shares on the BSE, amounting to a 1.44 per cent stake, Apoletto Asia sold 3.1 crore shares or around 0.4 per cent. The shares were sold in the range of Rs 90.10-91.01 apiece, taking the transaction value to Rs 1,411.99 crore.
Details of the buyers of these shares were not available, though a PTI report said that Axis Mutual Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Founders Collective Fund, Morgan Stanley Asia Singapore and Societe Generale, bought the shares.
The block deals led to the shares of Zomato rising 1.53 per cent to close at Rs 92.33 on the BSE, while it rose 1.48 per cent to settle at Rs 92.35 in the NSE.
On August 2022, Tiger Global had reduced its stake in Zomato by almost half to 2.77 per cent by selling over 18.45 crore shares in the open market. Tiger Global’s Internet Fund VI Pte had a holding of 5.11 per cent in the company before that sale.
Both these transactions come after a subsidiary of Ant Group sold a 3.6 per cent stake in Paytm for Rs 2,037 crore last Friday through open market transactions.
The shares of One97 Communications, which is the parent of Paytm, was sold by Antfin (Netherlands) Holding BV.
Motilal Oswal Mutual Fund (MF), Nippon India MF, ICICI Pru Life, Citigroup Global Markets Mauritius, Goldman Sachs (Singapore) Pte, Bay Pond Partners LP, Royal Bank of Scotland, Societe Generale, Abu Dhabi Investment Authority and International Bank for Reconstruction and Development were among the buyers of these shares.
