Highlights

  • Block deal is said to happen at a discount of about 5-6%
  • Zomato's share price has dropped by more than 55% this year
  • Zomato raised 9,375 cr through an IPO on 23 July last year

Latest news

iQOO Buds Review: Monster Battery and Serious Gaming Chops for under ₹2,000 

iQOO Buds Review: Monster Battery and Serious Gaming Chops for under ₹2,000 

Repo rate today at 5.25%: how long an RBI decision takes to reach your home loan interest rate

Repo rate today at 5.25%: how long an RBI decision takes to reach your home loan interest rate

CMF Buds Neo Review: 35dB ANC, 52-Hour Battery and Incredible Value

CMF Buds Neo Review: 35dB ANC, 52-Hour Battery and Incredible Value

iQOO Z11 Review: A Balanced Mid-Range Powerhouse

iQOO Z11 Review: A Balanced Mid-Range Powerhouse

Samsung Galaxy Watch 9 Review: Familiar, Faster And Better Where It Matters

Samsung Galaxy Watch 9 Review: Familiar, Faster And Better Where It Matters

Samsung Galaxy Watch Ultra2 Review: A Smarter, Tougher and Longer-Lasting Ultra

Samsung Galaxy Watch Ultra2 Review: A Smarter, Tougher and Longer-Lasting Ultra

Gabit Smart Ring Review: A Better Way To Track Your Health? 

Gabit Smart Ring Review: A Better Way To Track Your Health? 

Xiaomi Power Bank 5i 20000 67W Review: A Powerful Travel Companion

Xiaomi Power Bank 5i 20000 67W Review: A Powerful Travel Companion

Alibaba to sell Zomato shares worth $200 million

Share price of Zomato has fallen more than 55% in 2022, even as the food giant witnessed sharp revenue growth in recent quarters

Alibaba to sell Zomato shares worth $200 million

From layoffs to exit of co-founder, food delivery platform Zomato has already been facing tough times. As this was not enough, Chinese e-commerce giant Alibaba Group plans to sell around 3 per cent stake in Zomato for $200 million in a block deal.

The block deal comes months after the one-year lock-in-period for pre-IPO shareholders of Zomato ended on 23 June , 2022.

According to reports, post the deal, Alibaba will continue to hold about 10% stake in the food delivery giant.

Zomato, which raised ₹9,375 crore through an IPO on 23 July last year, has fallen more than 55% in 2022, even as the food giant witnessed sharp revenue growth in recent quarters.

ADVERTISEMENT

Up Next

Alibaba to sell Zomato shares worth $200 million

Alibaba to sell Zomato shares worth $200 million

Repo rate today at 5.25%: how long an RBI decision takes to reach your home loan interest rate

Repo rate today at 5.25%: how long an RBI decision takes to reach your home loan interest rate

Step-by-step guide to apply for a mortgage loan online with minimal documentation

Step-by-step guide to apply for a mortgage loan online with minimal documentation

Honda Activa 6G: Everything You Need to Know Before Buying

Honda Activa 6G: Everything You Need to Know Before Buying

How much does a ULIP plan really cost? A break-down of all charges

How much does a ULIP plan really cost? A break-down of all charges

Centre plans to borrow Rs 8.20 lakh cr from market in first half of FY27

Centre plans to borrow Rs 8.20 lakh cr from market in first half of FY27

ADVERTISEMENT

editorji-whatsApp

More videos

Reliance denies buying Iranian oil amid US sanctions waiver

Reliance denies buying Iranian oil amid US sanctions waiver

Premium petrol price up Rs 2, industrial diesel up Rs 22; no change in normal petrol, diesel rates

Premium petrol price up Rs 2, industrial diesel up Rs 22; no change in normal petrol, diesel rates

India's GDP expected to register over 8 pc growth in Sep-Dec: Report

India's GDP expected to register over 8 pc growth in Sep-Dec: Report

Govt announces seven measures to help boost exports

Govt announces seven measures to help boost exports

RBI keeps interest rates on hold after US trade deal boosts outlook

RBI keeps interest rates on hold after US trade deal boosts outlook

RBI proposes to compensate customers up to Rs 25,000 loss due to fraud

RBI proposes to compensate customers up to Rs 25,000 loss due to fraud

RBI raises GDP growth projection of Q1, Q2 of FY27

RBI raises GDP growth projection of Q1, Q2 of FY27

RBI pauses rate cuts, retains interest rate at 5.25 pc

RBI pauses rate cuts, retains interest rate at 5.25 pc

Rupee jumps 122 paise to close at 90.27 against US dollar on India-US trade deal

Rupee jumps 122 paise to close at 90.27 against US dollar on India-US trade deal

Stock markets cheer India-US trade deal: Sensex, Nifty surge 2.5 pc

Stock markets cheer India-US trade deal: Sensex, Nifty surge 2.5 pc

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.