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Antfin to Sell 2% Stake in Zomato via Block Deal Worth ₹4,650 Crore

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Synopsis:

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. .

Zomato Stake Sale News Today

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.

Deal Details and Valuation

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.

Impact on Zomato Share Price

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.

Placement Agents and Lock-In Period

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.

Key Takeaways

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.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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