HomeWhat's TrendingAntfin Divests More Than 2% of Zomato Stake at ₹160.40/Share

Antfin Divests More Than 2% of Zomato Stake at ₹160.40/Share

Antfin, a subsidiary of China’s Ant Group, has sold over a 2% stake in Zomato for ₹160.40 per share through bulk deals. The company offloaded a total of 176.4 million shares within the price range of ₹160.11 to ₹160.40 per share. As of December 2023, the Chinese company held a 6.32% stake in the Indian food delivery platform.

According to data from BSE, Antfin Singapore Holdings Pte, an arm of Ant Group, divested a 2.1% stake in Zomato through bulk deals on March 6. Meanwhile, Morgan Stanley acquired 56.8 million shares of Zomato at a price of ₹160.10 per share.

In December 2023, SVF Growth (Singapore) PTE Ltd, a venture capital fund of SoftBank, divested a 1.1% stake in Zomato. The sale involved 9,35,69,368 Zomato shares at an average price of ₹120.50.

This divestment is in line with SVF Growth’s previous actions, including the sale of comparable shares in October 2023 at an average price of ₹111.20 and the divestment of 10,00,00,000 shares in August 2023 at an average price of ₹94.70.

In November 2023, Alipay Singapore Holding, a subsidiary of Alibaba, divested its complete 3.44% equity stake in Zomato through open market transactions. Among the purchasers of Zomato shares were ICICI Prudential Life Insurance Company, Morgan Stanley, India Acorn ICAV, Société Générale, Government of Singapore, Monetary Authority of Singapore, Goldman Sachs (Singapore) Pte, Government Pension Fund Global, and Veritas Asset Management.

In January, Motilal Oswal Mutual Fund executed bulk deals, selling 4,50,00,000 Zomato shares at an average price of ₹138.15. As of Tuesday, Zomato shares on the BSE settled at ₹166.05.

Brokerage firm Jefferies provided insights, stating, “We value Zomato food delivery at 50x Mar’26 Ebitda and Blinkit at 9 times March 2026 sales, which is at a steep premium to global and regional peers, but India consumer staples and discretionary also trade at 2-3x of their global peers. Strong growth and improving profitability justify the premium valuations,” with a price target of ₹205 on the Zomato stock.

Monika Shanmugam