21-cr Zomato shares change hands in block deal

Mumbai: Online food delivery platform Zomato saw a block deal on Tuesday where 21 crore shares (2.4% equity) worth Rs5,438.5 crore changed hands. The block deal, likely by Antfin Singapore, was executed at an average of Rs258 per share. The Zomato stock was marginally down at Rs259.58 apiece in the morning trade after the block deal.

Antfin Singapore Holding last held a 4.24 per cent stake in the food aggregator valued at nearly Rs10,000 crore. According to reports, the stake sale also triggered a 90-day lock-in period, before Antfin can execute another round of equity sale. It was earlier reported that Antfin was planning to offload 1.54 per cent shares worth $408 million in Zomato.

The food delivery giant’s share rose 12 per cent after the company reported strong Q1 results. The company posted over 126 times growth in net profit to reach Rs253 crore in the April-June quarter (Q1 FY25), from Rs2 crore in net profit in the same quarter last year.

The Deepinder Goyal-run company reported 74 per cent growth (year-on-year) in revenue to Rs4,206 crore in Q1 FY25.