• Camas Investments Pte, a wholly owned subsidiary of Temasek acquired 9.80 crore shares of Zomato through bulk deals
Singapore state-owned investment company Temasak through its wholly owned subsidiary Camas Investments Pte bought its stake in Zomato on Wednesday, November 30, 2022. The same day, Alipay Singapore, an arm of Chinese e-commerce giant Alibaba, sold the stake. online food delivery aggregator for ₹1,631 crore through an open market transaction.
Camas Investments Pte, a wholly owned subsidiary of Singapore's sovereign wealth fund Temasek, acquired 9.80 crore shares (approximately 1.14% stake) of the company at an average price of ₹62, taking the transaction value to over ₹607 crore . Wholesale deals data of National Stock Exchange (NSE). After the deal, the sovereign wealth fund's stake in the company will increase to 4%.
On the other hand, Alipay Singapore Holding Pte sold a total of 26,28,73,507 shares, which was 3.07% stake in the company. The shares were sold at an average price of ₹62.06 per share, taking the transaction value to ₹1,631 crore. As of the quarter ended September, Alibaba held about 13% stake in the company through its affiliates, Antfin Singapore Holding and Alipay Singapore Holding, exchange data showed.
The development comes a few months after Uber Technologies sold its 7.8% stake in Zomato for $392 million through a block trade in August this year, according to a Reuters report.
Zomato reported a narrowing of its consolidated net loss to ₹250.8 crore for the second quarter ended September 2022, as against a loss of ₹434.9 crore in the year-ago period. Adjusted core loss, excluding figures from recently acquired instant-commerce business Blinkit, narrowed to ₹60 crore from ₹310 crore. The transaction with Blinkit closed on August 10, 2022 and therefore the financials for Blinkit have been consolidated from that date.
Meanwhile, its revenue from operations rose to ₹1,661.3 crore during the July-September quarter, as against ₹1,024.2 crore in the same period last fiscal. Gross order value, or the total value of all food delivery orders placed online on Zomato's platform, increased by about 23%.
Shares of Zomato, which made its market debut in July last year, are down over 47% since listing. The stock, which had hit a high of ₹169 in November 2021, is currently hovering around ₹65.
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