Temasek unit acquires 1.14% stake in Zomato for Rs 607.60 crore
- ByStartupStory | December 1, 2022
According to bulk offers information from the National Stock Exchange, Camas Investments Pte Ltd, a division of Singapore’s state-owned fund Temasek Holdings, bought 98 million shares of Zomato on Wednesday for Rs 62 each. For a total of Rs 607.60 crore, the Temasek unit acquired a 1.14% interest in the meal delivery company.
According to the information, Alipay Singapore Holding Pte Ltd, a subsidiary of the Alibaba Group, sold 262.87 million shares of Zomato on Wednesday for Rs 62.06 per share. This amounted to 3.07% of the corporate.
On the NSE, Zomato’s stock closed the day at Rs 65.25, 2.7% higher than when it opened. Temasek now owns a mixed 4% investment in the Gurugram-based company following the changing of Zomato’s share arms. Via its subsidiary Macritchie Investments Pte Ltd, it acquired a 2.86% interest in Zomato in 2020.
Through its subsidiaries Alipay Singapore Holding and Antfin Singapore Holding Pte Ltd, Alibaba will retain a 10% ownership stake in Zomato following the sale. Several significant Zomato investors, including Sequoia Capital, Tiger Global, Uber, and Delivery Hero, have sold their shares or reduced their holdings in the company during the past few months.
Sequoia Capital reduced its stake from 6.4% to 4.4% by selling 66.69 million shares between September 6, 2021, and October 14, 2021, and 105.21 million shares between June 27, 2022, and August 25, 2022, according to information released by Zomato in August.
Tiger Global promoted 184.45 million shares between July 25 and August 2, nearly halving its holding in Zomato. Prior to that, when Zomato’s required post-IPO lock-in period expired in late July, Delivery Hero, Moore Strategic Ventures, and D91 sold their entire stakes in the company. Uber also purchased an additional 612.19 million shares on August 3 to cover its entire stake in Zomato. When Uber acquired Uber Eats from Zomato in a stock-only transaction in 2020, it also acquired the shares.
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