BAJAJ BROKING
Antfin Singapore is set to offload 2% stake in Zomato worth ₹4,650 crore via a block deal at ₹251.68 per share. This represents a 4% discount compared to previous close. The deal, expected to take place today, involves sale of 18.5 crore Zomato shares. .
Antfin Singapore is set to execute a significant transaction involving its stake in Zomato Limited, a prominent food delivery aggregator. The deal, expected to take place today, involves the sale of 18.5 crore shares, representing 2% of Zomato's total equity.
As per the offer document obtained by CNBC-TV18, Antfin Singapore, which held a 4.24% stake in Zomato at the end of the June quarter of FY25, will be offloading a substantial portion of its shares.
The block deal is priced at ₹251.68 per share, representing a 4% discount to Zomato's share price of ₹263.24 on Monday. This pricing values the deal at approximately $556 million or ₹4,650 crore.
Zomato's share price will be a focal point in the stock market, with the anticipated deal. On Monday, the company's shares cooled off from intraday highs to close slightly lower by 0.45% at ₹263.24. Despite the minor dip, Zomato's share price has surged by an impressive 111% year-to-date in 2024.
Morgan Stanley and Goldman Sachs are acting as the placement agents for this block deal. Furthermore, the selling shareholder, Antfin Singapore, will be subject to a 90-day lock-in period, during which no additional shares can be sold.
The upcoming deal is poised to be closely watched by investors, particularly in light of Zomato's recent stock performance. The outcome of this block deal could have an impact on Zomato's share price and investor sentiment in the coming weeks.
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