China's Ant Group's arm Antfin Singapore Holdings Pte is likely to sell up to 2% stake (17.64 crore shares) in Zomato for Rs 2,800 crore through a block deal, sources told CNBC-Awaaz on March 5.
The floor price for the block deal has been fixed at Rs 159.4 per share, which represent 4% discount to current market price of Zomato stock, the channel reported.
On Tuesday, Zomato's scrip on BSE closed 1.8% lower at Rs 166.8.
Shares of the food delivery platform hit a record high on Monday, as improving profitability paved the way for future growth, triggering a turnaround in investor sentiment.
Zomato is the most-valuable new-age tech stock in India, with a market capitalisation of Rs 1.4 lakh crore.
Blinkit – Zomato’s quick commerce business, which it acquired in 2022 – is expected to turn EBITDA-positive next fiscal year and is viewed by investors as the next lever of growth for the firm.
Last month, Zomato reported a consolidated net profit of Rs 138 crore in the third quarter ended December 31, 2023, on the back of accelerated growth of quick commerce and steady performance of its core business.
The company had posted a consolidated net loss of Rs 347 crore in the same quarter last fiscal
Consolidated revenue from operations stood at Rs 3,288 crore. It was at Rs 1,948 crore in the year-ago period, it added.
Total expenses were higher at Rs 3,383 crore. The same was at Rs 2,485 crore in the corresponding period a year ago, the company said.
In a letter to shareholders, Zomato Managing Director & CEO Deepinder Goyal said in the third quarter, the food delivery Gross Order Value (GOV) growth reached back up to 25 per cent Year-on-Year (YoY).
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