New Delhi, Mar 6 (PTI) Antfin Singapore Holding on Wednesday pared a 2 per cent stake in online food delivery firm Zomato for Rs 2,827 crore through open market transactions.

Antfin Singapore Holding Pte is an affiliate of Ant Financial Group, while the latter is a part of Chinese e-commerce giant Alibaba.

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According to the bulk deal data available on the BSE, Antfin Singapore Holding Pte offloaded more than 17,63,95,675 shares in two tranches, representing a 2.02 per cent stake in Zomato.

The shares were sold within the price range of Rs 160.11-160.40 apiece, taking the deal size to Rs 2,827.08 crore.

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After the latest transaction, Antfin Singapore Holding Pte's shareholding has reduced to a 4.3 per cent stake in Zomato from a 6.32 per cent stake (as of December 2023) in the company.

Meanwhile, Morgan Stanley Asia (Singapore) Pte acquired 5.68 crore shares, amounting to a 0.65 per cent stake in Gurugram-based Zomato Ltd.

The shares were purchased at an average price of Rs 160.10 apiece, taking the transaction value to Rs 909.55 crore, as per the data.

Details of the other buyers could not be ascertained.

Shares of Zomato fell 2.68 per cent to settle at Rs 161.60 apiece on the BSE.

On February 8, 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 posted a consolidated net loss of Rs 347 crore in the same quarter last fiscal. Its consolidated revenue from operations stood at Rs 3,288 crore. It was at Rs 1,948 crore in the year-ago period.

In November last year, Alipay Singapore Holding, an arm of Chinese conglomerate Alibaba, divested its entire 3.44 per cent stake in food delivery aggregator Zomato for Rs 3,337 crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)