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.