Zomato share price drops around 1% after Alibaba arm Antfin’s stake sale worth ₹5,438.50 crore

Shares of Zomato worth ₹5,438.50 crore were sold in a block deal on August 20, Moneycontrol reported. Antfin Singapore Holding, a subsidiary of Alibaba Group, is believed to be the seller.

In the transaction, 21 crore shares, equivalent to a 2.4 per cent stake in the online food delivery giant, changed hands. The deal was executed at a floor price of ₹258 per share, representing a nearly 2 per cent discount compared to the stock’s previous closing price.