Antfin Singapore to sell stake in Zomato via Block Deal 

Breaking News | Sources have confirmed that Alibaba arm Antfin Singapore that holds stake in Zomato is likely to sell 1.54% stake in Zomato via Block Deal 

Sources further confirm the details regarding the block deal will soon be disclosed to SEBI via (Listing Obligations and Disclosure Requirements) Regulations, 2015

As of now the information available regarding the Block Deal are as follows

  • The Offer Size of the deal is likely to be $ 408 million
  • The Floor Price of the Deal is likely to be set at Rs. 251.68/- per equity share
  • The Discount Offered is 4% of the Market price on NSE
  • There will be a lock in period of 90 days for further sale of shares
  • Morgan Stanley and Goldman Sachs are likely to be the placement agents for this block deal 

The Shares of Zomato are currently trading at Rs.263.24/- per Equity Share and Antfin Singapore holds 4.2% in Zomato at present .

Antfin Singapore intends to sell 13.6 crore equity shares worth Rs. 3420 Crores 

However there is news of the stake sale to go up by 2% instead of earlier mentioned 1.54% wherein Antfin Singapore would sell up to 18.5 crore shares worth Rs. 4650 Crores 

Brokerage Analysts View  

Brokerage Firm UBS has maintained BUY recommendation and set target price of Rs. 320/- per share as against the earlier price of Rs. 260/-
 
ICICI Securities has also recommended a BUY and set Target price of Rs. 300 for Zomato Shares  
 

Disclaimer  

It is important to note that the analysis was purely for the purpose of education and information to those interested in evaluating the performance of Zomato.The information is from Sources who track Zomato. Kindly do not consider this as a buying or selling recommendation. Consult your financial advisor before taking positions in Zomato