Alipay's share sale follows a partial stake sale by Softbank Group last month where the Japanese investor sold 1.1% stake for ₹1,200 crore. Zomato shares have risen around 80% over the last one year. Alipay is selling 296 million shares and expects to raise ₹3,290 crore or ($395 million) on Tuesday.
Shares will be offered at ₹111.28 apiece-a 2.2% discount to the last close price. Zomato shares closed at 113.80 apiece on Tuesday. Bank of America Securities India Ltd and Morgan Stanley are arranging the trade.
According to exchanges, over the past one year, Deepinder Goyal-founded Zomato's price has gone up by 80% to ₹113.8 from ₹62.05.
Alipay invested $360 million in 2018, according to an Inc42 report. Alibaba Group has also separately invested through Ant Financial in Zomato.
Bu hikaye Hindustan Times dergisinin November 29, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Hindustan Times dergisinin November 29, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Palestinian PM Resigns Citing 'New Reality' Of War In Gaza
The United States and other powers have called for a reformed Palestinian Authority to take charge of all Palestinian territories after the end of war
Future Perfect: The Kids Are All Right
Gill and Jurel hold out promise by simplifying a challenging chase to help India seal series
Akshay feels 'blessed' to have worked with OG Ramayan cast
Director Akshay K Agarwal shot a music video, Humare Ram Aaye Hai, with the cast of the 1987 TV show, Ramayanactors Arun Govil, Dipika Chikhlia and Sunil Lahri - in Ayodhya recently.
Musk's firm gets nod for Sat Net; joins Jio, Bharti
Starlink, owned by billionaire Elon Musk, has been allowed to offer satellite broadband services in India, two officials aware of the development said.
A temple, 169 years in the making
Through decades of design and reworks, hurdles in engineering and construction, HT pieces together how the grandeur of the Ram Temple was reclaimed
'Political interference' forces Vihari to quit Andhra cricket
After Andhra bowed out of the Ranji Trophy at the quarter-final stage with a four-run defeat to Madhya Pradesh in Indore on Monday, senior batter Hanuma Vihari launched a scathing attack on the Andhra Cricket Association (ACA), saying he will never turn up for the state again.
Shafali, Kapp lead Capitals to a 9-wicket win over Warriorz
A blazing fifty by Shafali Verma (64₹, 43 balls) helped Delhi Capitals make a mockery of a target of 120 and open their account in the second edition of the Women's Premier League (WPL).
Making 'unbelievable things believable', the Ayhika way
The India No. 7 was an inspired pick for the world team event and she repaid the faith, beating the Chinese world No.1
'Connected TVs to reach 45 mn by 2024-end in India'
With improvement in broadband penetration, Indian households are increasingly opting for connected or addressable TVs.
India chip strategy makes progress as $21 billion in proposals received
The Indian government, after years of watching from the sidelines of the chips race, now has to evaluate $21 billion of semiconductor proposals and divvy up taxpayer support between foreign chipmakers, local champions or some combination of the two.
