Zomato gains 5% after 100 mn shares change hands via block deal

As many as 100 million shares representing 1.2% of total equity of Zomato worth of Rs 947 crore changed hands on the National Stock Exchange.

Shares of Zomato gained 5 per cent to Rs 99.60 on the National Stock Exchange (NSE) in Monday’s intra-day trade after 100 million shares of the online food ordering and delivery platform company changed hands on the exchange via block deals.

At 10:00 AM; Zomato was quoting 4.7 per cent higher at Rs 99.15, as compared to 0.45 per cent rise in the Nifty 50. The stock had hit a 52-week high of Rs 102.85 on August 7.

As many as 100 million shares representing 1.2 per cent of total equity of Zomato worth Rs 947 crore changed hands on the National Stock Exchange (NSE), the exchange data shows. The shares changed hands at an average price of Rs 94.70 per share, data shows.

The names of the buyer and sellers were not ascertained immediately.

Earlier, on August 28, Tiger Global and billionaire Yuri Milner's DST Global sold a 1.8 per cent stake in Zomato for Rs 1,412 crore through open market transactions.

Tiger Global through its affiliate Internet Fund III Pte and DST Global through its investment vehicle Apolleto Asia Ltd offloaded the shares on the BSE and NSE.

Axis Mutual Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Founders Collective Fund, Morgan Stanley Asia Singapore and Societe Generale, among others were the buyers of the shares of Zomato.