Antfin Singapore, an affiliate of the Chinese conglomerate Alibaba Group, is likely to sell a 1.54% stake in online food delivery aggregator Zomato on Tuesday through block deals, aiming to raise around ₹3,400 crore.
According to a term sheet issued by the bankers Goldman Sachs and Morgan Stanley, Antfin Singapore is offering to sell 136 million shares at a floor price of ₹251.68 per share – a 4% discount to Monday’s closing price.
As of June 30, 2024, Antfin held a 4.24% stake in Zomato.
Shares of Zomato have rallied 66% so far this year, compared to an 11% gain in the Sensex.
In March, Antfin sold a 2% stake in Zomato through the open market for about ₹2,828 crore.
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