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Tiger Global, DST Global sell 1.8% stake in Zomato for Rs 1,412 cr

Tiger Global and billionaire Yuri Milner's DST Global on Monday sold a 1.8 per cent stake in online food ordering platform Zomato for Rs 1,412 crore through open market transactions

Zomato

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Press Trust of India New Delhi

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Tiger Global and billionaire Yuri Milner's DST Global on Monday sold a 1.8 per cent stake in online food ordering platform Zomato for Rs 1,412 crore through open market transactions.
Axis Mutual Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Founders Collective Fund, Morgan Stanley Asia Singapore and Societe Generale, among others were the buyers of the shares of Zomato.
Tiger Global through its affiliate Internet Fund III Pte and DST Global through its investment vehicle Apolleto Asia Ltd offloaded the shares on BSE and NSE.
According to the bulk and block deal data available with the two exchanges, Tiger Global offloaded a total of 123,486,408 shares on BSE, amounting to a 1.44 per cent stake while Apoletto Asia disposed of 31,980,447 shares or around 0.4 per cent shareholding in Zomato.
The shares were sold in the range of Rs 90.10-91.01 apiece, taking the combined transaction value to Rs 1,411.99 crore.
On Monday, shares of Zomato rose 1.53 per cent to close at Rs 92.33 apiece on BSE and gained 1.48 per cent to close at Rs 92.35 per piece on NSE.
As per the bulk deal data with BSE, US-based private equity firm Tiger Global has exited Zomato by selling entire its shareholding in the company.
At the end of June quarter, Tiger Global owned 1.44 per cent stake in Zomato, shareholding data showed with the BSE.
In August 2022, Tiger Global reduced its stake in the company 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 online food delivery platform before the sale.
Earlier this month, Zomato reported its first-ever consolidated profit after tax of Rs 2 crore in the April-June quarter of 2023-24, driven by a strong revenue growth.

 
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First Published: Aug 28 2023 | 8:54 PM IST

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