Singapore-based state-owned company Temasek Holdings' subsidiary CAMAS Investments Pte Ltd bought 98 million shares in Indian food tech unicorn Zomato worth Rs 607 crore. According to the data from the National Stock Exchange, the company bought 98 million shares at Rs 62 per share through a bulk deal.
With the latest transaction, Temasek now holds a 4 per cent stake in the Gurugram-based food tech platform. Earlier, it bought a 2.86 per cent stake in Zomato through its subsidiary firm Macritchie Investments Pte Ltd in 2020.
On Wednesday, Alipay Singapore Holding--Chinese major Alibaba's group affiliate, offloaded 262.87 million shares which amounted to nearly a 3.07 per cent stake in the company. Through an open market transaction, the company sold these shares at an issue price of Rs 62.05 per share.
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Post the transaction, Alibaba’s shareholding has come down to 10 per cent from approximately 13.07 per cent.
In the past few months, Zomato has witnessed its shareholders either exit or reduce their shareholding in the company after its mandatory lock-in period for pre-IPO investors ended earlier this year.
In August 2022, Uber Technologies sold its entire 7.8 per cent stake in Zomato to generate $392 million through a block deal.
Zomato narrowed its net loss to Rs 250.8 crore in the September quarter of 2022, compared to Rs 434.9 crore one year ago. The company also witnessed a surge in its revenues. In the July-September quarter, Zomato recorded a Rs 1,661.3 crore revenue in operation compared to Rs 1,024.2 crore one year ago.
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In recent times, the food tech company saw the exits of some top-level executives including one of the co-founders Mohit Gupta and the head of the intercity food delivery service, Siddharth Jhawar.
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