Private Equity

Liquidity Events

Alibaba's unit sells 3.44% stake in Zomato for Rs.3,337-Cr

Financial Express  

Alipay Singapore Holding, an arm of Chinese e-commerce firm Alibaba, divested its entire 3.44% stake in publicly-listed, Gurugram-headquartered online food delivery service Zomato for INR 3,337 crore through open market transactions. Alipay Singapore Holding Pte sold 29,60,73,993 shares of Zomato at an average price of INR 112.7 apiece, taking the combined transaction value to INR 3,336.75 crore. The buyers included ICICI Prudential Life Insurance Company, Max Life Insurance, Aditya Birla Sun Life Mutual Fund (MF), Birla MF, Morgan Stanley, India Acorn ICAV, Societe Generale, Government of Singapore, Monetary Authority of Singapore, Goldman Sachs, Government Pension Fund Global and Veritas Asset Management. Post-transaction, Alipay's parent, Alibaba Group, continues to own a 6.39% stake in Zomato through another affiliate, Antfin Singapore Holding Pte Ltd.

From the Venture Intelligence PE-VC Deal Database: Alipay has been an investor in Zomato since Feb-2018. The company went public in 2021. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)