Under the transaction, the US hedge fund has offloaded 12.3 crore shares or 1.47% stake in the company on BSE at Rs 91.01 apiece, earning about Rs 1,123 crore.
Marquee funds, including Axis Mutual Fund, Goldman Sachs, Citigroup, Morgan Stanley Asia, and Societe Generale were among the buyers in the transaction.
Meanwhile, another Russia-based fund Apoletto Asia has sold 3.19 crore shares in a separate deal on NSE, according to exchange data.
Earlier, it was reported that Japanese tech giant SoftBank was likely to offload Zomato shares as the lock-in for the post-Blinkit deal ended on Friday.
Zomato issued fresh equity shares to all the selling shareholders of Blinkit as consideration for the M&A last year. Following the transaction, Zomato had negotiated a 12-month lock-in for these shares, compared to the statutory lock-in requirement of six months.
A majority of these shares are owned by just three venture capital investors, namely, SoftBank, Sequoia, and Tiger Global.An analysis of JM Financial suggested that pre-IPO and ex-Blinkit shareholders of Zomato are currently sitting on substantial gains on their investments, a large chunk of which is, however, unrealised.
“Given the quantum of these gains and basis past actions of these VC/PE/Chinese shareholders in the listed internet names that recently went public, we believe it is fair to say that a sizeable proportion of Zomato’s stock could be available for trade in large blocks in a not-so-distant future,” the brokerage had said earlier.
Zomato is majorly owned by public shareholders with nearly 98% holding, where prominent funds, including Fidelity, Canada Pension, Antfin, and Motilal Oswal MF, among others have a stake in the company.
As per Trendlyne data, the target price of the stock is Rs 101, an upside potential of 9% from the current market prices. The consensus recommendation from 25 analysts for the stock is a ‘Buy’.
On Monday, Zomato stock closed 1.48% at Rs 92.35 on NSE.