According to reports, approximately 21 crore shares, representing a 2.4% stake in the online food delivery platform, were traded in the block deal.
However, the official parties involved in the transaction have not yet been disclosed.
Earlier, ET reported that Antfin Singapore was likely to sell shares in Zomato worth $408 million at a floor price of Rs 251.68 per share.
Before today’s block deal, Antfin Singapore held a 4.3% stake in the food delivery platform. At the floor price of Rs 251.68, the shares were offered at a 4.6% discount compared to Monday’s closing price of Rs 263.24 on the NSE.On Monday, Zomato shares surged 6% intraday after global brokerage firm UBS raised its target price from Rs 260 to Rs 320.”We increase our GMV estimates for food delivery (+2-3%) and quick commerce (+20-30%) for FY26-28e following the strong Q1 and solid guidance. Our adj EBITDA estimates for the next 1-2 years are up only slightly as investments in building supply for quick commerce will likely result in a more modest margin trajectory,” UBS said in a note while maintaining a buy call.The brokerage also noted that it has increased employee cost estimates to account for investments in manpower.
Among prominent brokerages, CLSA has the highest target price for Zomato at Rs 350. In contrast, Motilal Oswal’s target is Rs 300, Nomura’s is Rs 280, and Bernstein’s is Rs 275. In the June quarter, Zomato reported a significant increase in Q1 profit, rising from Rs 2 crore in the corresponding quarter of the previous year to Rs 253 crore.
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