Antfin Singapore, an affiliate of Alibaba Group, announced its intention to sell a 1.54% stake in the online food delivery giant Zomato. Through strategic block deals, the company aims to raise approximately ₹3,400 crore. The shares will be offered at ₹251.68 each, representing a 4% discount compared to the previous closing price.

Before this move, Antfin held a 4.24% stake in Zomato but sold a significant 2% stake earlier this year for around ₹2,828 crore. The current decision highlights Antfin’s proactive management of its investment portfolio amidst fluctuating market dynamics. Since the start of the year, Zomato’s shares have surged by 66%, significantly outperforming the Sensex, which has only gained 11% in the same period.

Market analysts view this sale as a potential opportunity for institutional investors and a key aspect of Zomato’s growth narrative. With Zomato expanding its footprint in the highly competitive food delivery sector, this transaction may attract further interest from investors looking to capitalize on a booming market.

In essence, this stake sale represents a calculated strategy from Antfin Singapore, aligning with current market trends while maintaining a presence in the escalating online food delivery sector.