Tiger Global's Internet Fund III Pte sold its entire 1.4% stake in food delivery giant Zomato Ltd. for Rs 1,123.85 crore on Monday.
The fund sold 12.35 crore shares at an average price of Rs 91.01 apiece in a bulk deal, according to data available on the BSE.
Russian billionaire Yuri Milner-backed venture capital firm Apoletto Asia also sold 3.2 crore shares (0.4%) at Rs 90.1 apiece, according to data available on the NSE.
The buyers include Societe Generale, which bought 3.84 crore shares (or 0.4%); Kotak Funds India Midcap Fund, which bought 2.6 crore shares (0.3%); Axis Mutual Fund, which bought 2 crore shares (0.2%); and Morgan Stanley Asia, which bought 1.54 crore shares (0.2%), among others.
The transactions happened after the lock-in period following Zomato's Blinkit acquisition ended on Aug. 25. The investors to whom the lock-in period applied included Japanese tech giant SoftBank and venture capital investors Tiger Global and Peak XV (formerly known as Sequoia India).
Shares of Zomato closed 1.48% higher at Rs 92.35 on Monday, as compared with a 0.21% advance in the Nifty 50.
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