Ant Group’s payments platform Alipay is set to offload shares of Zomato Ltd in a $395 million block deal on Wednesday, according to a term sheet reviewed by Mint.
Alipay’s share sale follows a partial stake sale by Softbank Group in the food delivery aggregator last month where the Japanese investor sold 1.1% stake for ₹1,200 crore.
Alipay is selling 296 million shares in the online food delivery company and expects to raise ₹3,290 crore or ($395 million).
Shares will be offloaded at ₹111.28 apiece, a 2.2% discount to the closing price of ₹113.80 apiece on Tuesday.
Bofa Securities India Ltd and Morgan Stanley are arranging the trade.
According to exchanges, over the past one year, Deepinder Goyal-founded Zomato’s share price has risen by 80% from ₹62.05 to ₹113.8 now.
Alipay invested $360 million in 2018, according to an Inc42 report. Alibaba Group has also separately invested through Ant Financial in Zomato.
هذه القصة مأخوذة من طبعة November 29, 2023 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة November 29, 2023 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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