Alipay Exits Zomato Through 3.4% Stake Sale

Chinese payments group Alipay has offloaded 29.60 crore shares, or 3.44% stake, in food aggregator Zomato Ltd. for Rs 112.7 per share.

Through this transaction, Alipay—owned by the Ant Group—has sold its entire stake in Zomato.

Morgan Stanley Asia (Singapore) was among the ones who picked up stake from Alipay. Morgan Stanley bought 4.4 crore shares, or 0.5% stake, at Rs 112.7 per share.

Alipay held 8.4% stake in the company before its initial public offering, with about 55.89 crore shares. After this issue, Alipay's stake was reduced to 3.44%.

In October, the SoftBank-affiliated SVF Growth (Singapore) Pte. sold 1.1% stake in the food aggregator for Rs 1,040 crore.

Shares of Zomato closed 2.46% higher at Rs 116.6 apiece on the NSE, as compared with a 1.04% advance in the benchmark Nifty 50.