Antfin Singapore Holding Pte. Ltd. is looking to sell up to 2% stake in Zomato Limited (NSEI:ZOMATO) through large deals in the open market. The Ant Group will sell the shares at INR 159.4, which is at a near 4% discount to March 05, 2024 closing price of INR 165.8 on the NSE.

Antfin, an affiliate of the Chinese Alibaba Group, held a 6.42% stake in the company as on December-end. News of the stake sale by Antfin comes just a day after the shares hit their all-time high of INR 175.6 on March 04, 2024. The shares have gained more than 34% so far in 2024, after having more than doubled in 2023.

The stake sale by Antfin is expected to bring in INR 28.00 billion for them.