Chinese language third-party cell and on-line fee platform Alipay, on Wednesday, offloaded its whole stake in meals supply big Zomato in a block deal on Wednesday.
The corporate offered 3.5 per cent stake in Zomato for about Rs 3,336 crore at Rs 112.7 apiece.
The consumers included Goldman Sachs, Constancy Investments, Morgan Stanley, ADIA, Vanguard, and Societe Generale, reported Financial Instances.
Financial institution of America and Morgan Stanley have been advisers on the deal, in line with Reuters.
Alipay, owned by Ant Group needed “to money out … the (market) timing is nice,” Reuters has quoted a supply as saying.
The shares of Zomato rallied almost 4 per cent on Wednesday, to shut at Rs 117.70. The shares of the meals supply big, which reported a second worthwhile quarter, have gone up over 75 per cent previously six months.
Alipay is just not the one Chinese language agency that offloaded shares in Indian start-ups. In August, China’s Antfin offered a ten.3 per cent stake in monetary know-how firm Paytm.