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Motilal Oswal mutual fund offloads 4.5 Cr shares of Zomato in INR 621 Cr block deal

Inc42 · 1y ago

Motilal Oswal mutual fund offloads 4.5 Cr shares of Zomato in INR 621 Cr block deal

Motilal Oswal Mutual Fund has sold 4.5 crore shares of Zomato in a block deal worth INR 621.6 crore. The shares were purchased by BNP Paribas, Citigroup, Goldman Sachs, Morgan Stanley, and Societe Generale. Zomato's shares fell nearly 3% during early trading but ended the session 4.44% lower on the BSE. This comes after HSBC, Goldman Sachs, and Jefferies raised their price targets for Zomato due to expectations of strong growth in its food delivery and quick commerce verticals. Zomato reported profitable quarters in Q1 and Q2 of FY24.

Related News

Motilal Oswal MF Dumps 2.8 Cr Zomato Shares; Societe Generale, Goldman Sachs, Others Buy

Inc42 · 1y ago

Motilal Oswal MF Dumps 2.8 Cr Zomato Shares; Societe Generale, Goldman Sachs, Others Buy

Motilal Oswal Mutual Fund sold 2.8 crore shares of foodtech major Zomato in a block deal worth INR 645.8 crore. This move came as Zomato's stock price saw a significant surge. The shares sold by the mutual fund were purchased by institutional investors such as Axis Mutual Fund, Citigroup, Goldman Sachs, and Societe Generale, with the latter buying the highest number of shares for INR 289.7 crore.

Canada Pension Board Offloads Nykaa Shares For INR 256 Cr

Inc42 · 1y ago

Canada Pension Board Offloads Nykaa Shares For INR 256 Cr

Canadian Pension Plan Investment Board (CPPIB) has sold its remaining 3.18% stake in logistics company Delhivery for INR 910 Cr. In another deal, ICICI Prudential Mutual Fund India purchased shares sold by beauty e-commerce major Nykaa. CPPIB sold over 1.47 Cr shares of Nykaa for INR 256.4 Cr in a block deal at a price of INR 174.04 per share.

Societe Generale offloads Zomato shares worth INR 117 Cr, picks up Policybazaar shares

Inc42 · 1y ago

Societe Generale offloads Zomato shares worth INR 117 Cr, picks up Policybazaar shares

Societe Generale sold over 86.5 lakh shares of Zomato in a block deal, amounting to INR 117.81 crore. These shares were then purchased by Marshall Wace, a British hedge fund. At the same time, Societe Generale acquired nearly 5 lakh shares of PB Fintech (parent company of Policybazaar) for INR 46.13 crore. This move comes amidst a sell-off by foreign institutional investors in the Indian equities market. Zomato has seen several block deals recently, while Policybazaar is expected to report profits starting Q3 FY24.

SoftBank offloads 1.06% stake in Zomato for INR 1,127 Cr

Inc42 · 1y ago

SoftBank offloads 1.06% stake in Zomato for INR 1,127 Cr

Japanese tech investor SoftBank has sold 9.35 crore shares of foodtech giant Zomato in a block deal worth INR 1,127 crore. The shares were sold by SVF Growth (Singapore) at INR 120.5 per share, with buyers including Invesco, ICICI Prudential Insurance, Goldman Sachs, and Morgan Stanley. This latest stake sale suggests that SoftBank has likely completely exited Zomato, following a previous stake sale in October. The move aligns with the trend of international investors divesting from Indian tech companies. Zomato recently reported its second consecutive profitable quarter.

SoftBank’s stake sale continues, offloads 1.14 Cr PB Fintech shares worth INR 914 Cr

Inc42 · 1y ago

SoftBank’s stake sale continues, offloads 1.14 Cr PB Fintech shares worth INR 914 Cr

SoftBank has sold 2.53% of its stake in PB Fintech through multiple block deals, totaling to INR 913.7 Cr. Following the sale, SoftBank is now expected to hold 83.23 Lakh shares in the company. The shares were purchased by Societe Generale, HDFC Mutual Fund, Goldman Sachs, ICICI Prudential Life Insurance, and others. This stake sale comes after SoftBank's recent offloading of shares in Zomato. PB Fintech has been witnessing improvements in its financials, with a significant decline in net loss and consecutive positive quarters of adjusted EBITDA.

Morgan Stanley Offloads PB Fintech Shares Worth INR 19.1 Cr

Inc42 · 23d ago

Morgan Stanley Offloads PB Fintech Shares Worth INR 19.1 Cr

Morgan Stanley Asia (Singapore) Pte sold 99,994 shares of PB Fintech in a block deal valued at INR 18.19 crore. The shares were sold for INR 1,819 each, slightly below the previous closing price of INR 1,823.7 on the BSE. BNP Paribas Financial Markets purchased the shares. This transaction follows PB Fintech co-founders Yashish Dahiya and Alok Bansal selling a significant portion of their holdings for INR 920 crore.

Societe Generale, Morgan Stanley and others buy Zomato shares worth Rs 635 crore via block deals

Economic Times

Economic Times · 1y ago

Societe Generale, Morgan Stanley and others buy Zomato shares worth Rs 635 crore via block deals

Zomato experienced several block deals worth Rs 635 crore on Tuesday, with Societe Generale emerging as the top buyer, purchasing shares worth Rs 290 crore. Other notable buyers included Goldman Sachs Investments and Morgan Stanley Asia Singapore. The only seller was Motilal Oswal Mutual Fund, selling over 2.84 crore shares for Rs 646 crore. Zomato shares closed at Rs 218.35 on Tuesday, down 4.71% from the previous day. The recent platform fee increase to Rs 6 per order in key markets has attracted attention. Zomato shares have shown a significant upward trend, gaining around 175% in the past year.

Zomato sees INR 1,127 Cr block deal, SoftBank likely seller

Inc42 · 1y ago

Zomato sees INR 1,127 Cr block deal, SoftBank likely seller

In a recent block deal, around 1.06% stake or 9.35 Cr shares of Zomato were exchanged, fetching a total transaction value of INR 1,127 Cr. The buyers and sellers in the deal remain undisclosed. Japanese tech investor SoftBank's SVF Growth is also reportedly looking to offload another 1.1% stake in Zomato, worth $135 Mn. Zomato shares were trading at INR 123.6 apiece, showing a 1.3% increase from its previous close.

Motilal Oswal fund pares stake in Zomato, Bandhan Core Equity Fund buys stake in Hi Tech Pipes

Money Control

Money Control · 1y ago

Motilal Oswal fund pares stake in Zomato, Bandhan Core Equity Fund buys stake in Hi Tech Pipes

Motilal Oswal Mutual Fund has sold shares worth Rs 621.67 crore in Zomato, reducing its stake by 0.52 percent. On the other hand, Bandhan Core Equity Fund has acquired a 1.02 percent stake in Hi-Tech Pipes, while Ajay Kumar and Sons, the promoters of Hi-Tech Pipes, have sold a 1.75 percent ownership. In another deal, AG Dynamic Funds has sold a 1.67 percent stake in Vikas Lifecare.

Zomato allots 47.75 crore shares under multiple ESOP schemes

YourStory

YourStory · 7m ago

Zomato allots 47.75 crore shares under multiple ESOP schemes

Zomato has approved the allotment of 47.75 crore equity shares under various ESOP schemes to Foodie Bay Employees ESOP Trust. This will increase the company's share capital. Last week, Zomato raised Rs 8,500 crore through the issuance and allotment of 33.64 crore equity shares. The qualified institutional placement was led by domestic mutual funds, with Motilal Oswal, ICICI Mutual Fund, HDFC mutual fund, and Kotak being the major participants. The fundraise aims to strengthen Zomato's balance sheet after acquiring Paytm's ticketing business. Additionally, Zomato has reduced its stake in Byondnxt Smart Home to 6% from 8%.

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