Alipay Singapore Holding sells its stake in Zomato for Rs 3,337 crore
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Alipay Singapore Holding, the arm of Chinese e-commerce company Alibaba, on Wednesday sold its entire 3.44 per cent stake in online platform Zomato for Rs 3,337 crore in an open market transaction.
Alipay Singapore Holding Pte sold over 29.60 crore shares of Zomato on BSE in 31 tranches. According to data available with BSE, Alipay Singapore Holding Pvt sold a total of 29,60,73,993 shares.This is equal to its 3.44 percent stake in Zomato.
The sale was done at an average price of Rs 112.7, taking the total deal value to Rs 3,336.75 crore. Those who bought Zomato shares also include ICICI Prudential Life Insurance Company, Max Life Insurance, Aditya Birla Sun Life Mutual Fund (MF), Birla MF, Morgan Stanley, India Acorn ICAV and Goldman Sachs (Singapore) Pvt.
After the recent deal, Alibaba, through its subsidiary Antfin Singapore Holding Pte Ltd, owns 6.39 percent stake in Gurugram-based company Zomato.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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