Comments
China’s Antfin Singapore Pte will be selling 13.6 crore shares or over 1.5 per cent stake in portfolio firm Zomato in a block deal, according to a term sheet.
The floor price for the deal is fixed at ₹251.68 a share for an aggregating value of $408 million. The floor price is at a 4 per cent discount to the closing price of the stock on the NSE today.
Antfin had sold 2.1 per cent in the food delivery platform in March this year in a deal worth $341.5 million, reducing its stake to under 5 per cent. At the end of June, it held a stake of 4.24 per cent, exchange data showed.
Morgan Stanley and Goldman Sachs are the placement agents for the deal.
Zomato has a diversified public shareholding with mutual funds holding 12.5 per cent stake, Category 1 portfolio investors 44 per cent, while Info Edge holds 13.5 per cent stake.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.