Alipay is anticipated to use a block sale to sell its 3.4% interest in Zomato

 Alipay is anticipated to use a block sale to sell its 3.4% interest in Zomato

Sources claim that Alipay would offer 29.6 crore shares for sale, each at a price of Rs 111.28.

On November 28, CNBC TV-18 reported, citing sources, that Alipay is expected to sell a 3.4% share in Zomato, the largest meal delivery company, via a block sale.

According to reports, Alipay plans to sell 296 million shares at a price of Rs 111.28 each.

Following Alipay's stake sale, a ninety-day lock-in will reportedly apply to any further share transactions.

Jack Ma, the founder of Alibaba Group, established Alipay, a third-party mobile and online settlements platform, in Hangzhou, China, in February 2004.

Zomato shares, meanwhile, finished at Rs 113.80 on the BSE during the trading session on November 28, up 0.53% from the closing of the day before.