China's Alipay Sells 3% Stake In Zomato For Rs 1,631 Crore

Alipay Singapore, an arm of chinese e-commerce giant Alibaba, on Wednesday sold 3.07% stake in online food delivery aggregator Zomato for Rs 1,631 crore through an open market transaction.

According to the bulk deal data available with the National Stock Exchange, Alipay Singapore Holding Pte offloaded a total of 26,28,73,507 shares, amounting to 3.07% stake in the company.

The shares were offloaded at an average price of Rs 62.06 apiece, taking the transaction value to Rs 1,631.39 crore.

On Wednesday, Camas Investments Pte, an wholly owned subsidiary of Singaporean sovereign wealth fund Temasek acquired 9.80 crore shares of the company.

As of quarter ended September, Alibaba through its affiliates--Antfin Singapore Holding and Alipay Singapore Holding--owned nearly 13% stake in the company, data with the bourse showed.

Shares of Zomato closed 3.54% higher at Rs 65.80 per scrip on NSE.