Motilal Oswal MF sells Zomato shares for Rs 646 crore
According to the block deal data available on the National Stock Exchange (NSE), Motilal Oswal Mutual Fund (MF) sold more than 2.84 crore shares or 0.3 per cent stake in Gurugram-based Zomato.
Motilal Oswal Mutual Fund on Tuesday divested its stake in online food delivery aggregator Zomato for Rs 646 crore through an open market transaction. According to the block deal data available on the National Stock Exchange (NSE), Motilal Oswal Mutual Fund (MF) sold more than 2.84 crore shares or 0.3 per cent stake in Gurugram-based Zomato.
The shares were disposed of at an average price of Rs 226.85 apiece, taking the transaction value to Rs 645.84 crore.
Axis Mutual Fund, BNP Paribas Arbitrage, Citigroup Global Markets Mauritius, Goldman Sachs, Matthews Asia, Morgan Stanley, Hong Kong-based Optimas Capital Management and investment management firm Polar Capital were among the buyers of Zomato's shares.
Shares of Zomato plunged 4.71 per cent to close at Rs 218.35 apiece on the NSE.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
Power of Compounding: How many years it will take to reach Rs 2 crore corpus if your monthly SIP is Rs 3,000, Rs 4,000, or Rs 5,000
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
07:41 PM IST