Food delivery firm Zomato stake sale fetches Rs 1,631 crore for Alibaba

Alibaba-led Alipay Singapore Holding, on Wednesday, sold 262.9 million shares or 3.07 per cent stake in food delivery firm Zomato. Alipay mopped up a total of Rs 1,631 crore from the sale in which Camas Investments bought shares worth Rs 608 crore. The shares were sold at Rs 62 apiece.

On Wednesday, the company’s shares rose 2.6 per cent to end the day’s trade at Rs 65.2. Prior to the stake sale, Alipay held 6.7 per cent stake in Zomato while affiliate firm Antfin holds another 6.6 per cent share in the foodtech giant.