Alipay will be selling around 3.45% of the stake in Zomato through the Indian Stock Market. The worth of the stake is said to be Rs. 3,300 Crores or $395 million. AntGroup is the parent company of Alipay. There are around 29.6 Crores shares of the Zomato with Alipay. It will be a block deal that can take place this week. Zomato is a food delivery company. Let us have more details about Alipay’s Zomato share-selling deal.
Alipay Will Be Selling The Shares Worth Rs. 3,300 Crores
Alipay has decided to sell its whole share worth Rs. 3.4% of Zomato. It is a food delivery company that has shown fabulous growth in the current year. The deal will be successfully executed by this week. Zomato has seen around 90% growth in the current year. It fell by almost half in the last year. Zomato made a superb comeback. According to Alipay, the time for selling the shares is the most suitable at the moment. The selling price will be Rs. 111.28 per share. The buyers will get around a 2.2% discount on the actual value of Rs. 113.8. There have been other companies as well that sold the Zomato shares with high profitability. One of these companies is Softbank. It sold around 1.1% of the stake.
Zomato’s current share price is Rs. 113.80. It has shown around 79.07% growth in a year out of which 69.60% is from the last six months. The all-time high of Zomato in 52 weeks is Rs. 126.35, while the all-time low of 52 weeks is Rs. 44.35. The market cap of Zomato is Rs. 97.40 thousand Crores. The share is estimated to reach at least Rs. 130 in the upcoming two months. It is listed on both NSE and BSE.
The face value of the shares is 1, with a P/B ratio of 4.99, ROE of -2.52%, EPS of -0.57, book value of 22.69, dividend yield of 0.00%, industry P/E of 104.27, Debt to Equity ratio of 0.03. The company started in 2010. Foreign institutions hold 54.72% of the stake, 33.16% of the stake is with retails and others, 10.56% of the stake is in Mutual Funds, and 1.56% with other domestic institutions. Deepinder Goyal is the founder of Zomato, who has proudly announced share price growth from Rs. 62.05 to Rs. 113.8. Alipay has decided to sell the company’s share at the best time with around 90% growth. Stay tuned for more information on our website.