Antfin Singapore may sell shares in Zomato worth USD 408 million at the floor price of Rs 251.68 per share via a block deal, according to media reports. It currently holds a 4.3 per cent stake in the food delivery platform.
As per media reports, it is still a developing story. Zomato shares jumped 6 per cent on Monday on an intraday basis following a raise in target price by global brokerage firm UBS from Rs 260 to Rs 320.
Zomato shares ended down by Rs 1.2 or 0.45 per cent over Friday’s closing price after hitting a lifetime high of Rs 280.90, as per media reports. The shares will be available for sale at a discount of 4.6 per cent over Monday’s closing price of Rs 263.24 on the NSE.
Zomato reported a multi-fold jump in Q1 profit from Rs 2 crore in the corresponding quarter of last year to Rs 253 crore, according to media reports. Revenue from operations in the concerned period increased 74 per cent year-on-year to Rs 4,206 crore. Interestingly, as per media reports, Zomato shares have performed well so far in the calendar year 2024, with its market capitalization now nearing the Rs 2.5 lakh crore-mark.
