Alibaba arm exits Zomato, sells stake for Rs 3,337 crore

PTI

Updated At : 12:34 PM Nov 30, 2023 IST

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New Delhi, November 29

Alipay Singapore Holding, an arm of Chinese e-commerce giant Alibaba, on Wednesday divested its entire 3.44% stake in food delivery aggregator Zomato for Rs 3,337 crore through open market transactions.

ICICI Prudential Life Insurance Company, Max Life Insurance, Aditya Birla Sun Life Mutual Fund (MF), Birla MF, Morgan Stanley, India Acorn ICAV, Societe Generale, Government of Singapore, Monetary Authority of Singapore, Goldman Sachs (Singapore) Pte, Government Pension Fund Global and Veritas Asset Management, among others were the buyers of shares of Zomato.

Alipay Singapore Holding Pte sold more than 29.60 crore shares of Zomato in 31 tranches on the BSE.

According to the block deal data available with BSE, the shares were sold at an average price of Rs 112.7 apiece.

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