Antfin looks to sell 2% in Zomato

Mumbai: Antfin Singapore Holding is looking to sell up to 2% stake in Zomato through large deals in the open market. The Ant Group will sell the shares at ₹159.4, which is at a near 4% discount to Tuesday's closing price of ₹165.8 on the NSE. Antfin, an affiliate of the Chinese Alibaba Group, held a 6.42% stake in the company as on December-end.

News of the stake sale by Antfin comes just a day after the shares hit their all-time high of ₹175.6 on Monday. The shares have gained more than 34% so far in 2024, after having more than doubled in 2023. The stake sale by Antfin is expected to bring in ₹2,800 crore for them.