Block deal of 21 crore shares of Zomato done: 21 crore shares (2.4 percent equity) of online food delivery platform Zomato were traded on Tuesday. Its value was around Rs 5,438.5 crore.
This block deal is likely to be done by Antfin Singapore at a price of Rs 258 per share. After this deal, Zomato’s stock was trading with a slight decline at Rs 259.58 in early trade. Antfin Singapore had a 4.24 percent stake in Zomato. Its value was around Rs 10,000 crore.
The report said that with this block deal, a lock-in period of 90 days has started for Antfin. Only after this will Antfin be able to make any other deal in the market. Earlier, a media report claimed that Antfin is planning to sell 1.54 percent stake in Zomato for $408 million. Zomato’s profits have increased by 126 times in the first quarter of FY 2024-25.
The company has reported a profit of Rs 253 crore between April-June period, which was Rs 2 crore in the same period last year. Since the results, Zomato’s stock has given a return of more than 12 percent. In the June quarter of the current financial year, the company’s income has seen a growth of 74 percent year-on-year and it was Rs 4,206 crore in the April-June period.
In the first quarter of FY 2024-25, Zomato’s Gross Order Value has increased by 27 percent to Rs 9,264 crore. At the same time, the Gross Order Value (GOV) of quick commerce company Blinkit has increased by 130 percent year-on-year to Rs 4,923 crore.
Blinkit plans to open 1,000 stores by March 2025. It aims to open 2,000 stores by the end of 2026 while being profitable. Most of these stores will be opened in the top 10 cities.
