Zomato rises despite Alipay selling a 3.07 per cent stake in the company

Zomato jumps more than 1 per cent.

In an open market transaction Alipay Singapore, a subsidiary of Chinese e-commerce Alibaba, sold a 3.07 per cent share in online food delivery aggregator Zomato for Rs 1,631 crore. A total of 26,28,73,507 shares, which is 3.07 per cent of the firm, were sold by Alipay Singapore Holding Pte, according to bulk trade data made available by the National Stock Exchange (NSE). The transaction value increased to Rs 1,631.39 crore when the shares were sold at an average price of Rs 62.06 per share. 

Pankaj Chaddah and Deepinder Goyal Founded the international restaurant aggregation and meal delivery business Zomato in 2008. It offers details about restaurants, menus, and reviews from customers as well as choices for food delivery from affiliated restaurants in a few cities. 

As of writing shares of Zomato are trading at Rs 66.45, up 125 points or 1.92 per cent from when it last closed on the BSE at Rs 65.20. 

The stock price achieved a high of Rs 66.60 and a low of Rs 65.40 after opening at Rs 66.30. Also, 1270840 shares have been traded so far.  The BSE group "A" stock, which has a face value of 1, has a 52-week high of Rs 157.80 on December 1, 2021, and a 52-week low of Rs 40.55 on July 27, 2022. 

The company's market capitalisation as of now is Rs 56826.34 crore. Institutions and non-institutions each owned 31.87 per cent and 68.14 per cent of the corporation, respectively.