Internet Fund III Pte Ltd, the venture capital fund managed by US-based investment management company Tiger Global Management, has sold its remaining stake in Zomato Ltd on Monday via bulk deal on Bombay Stock Exchange (BSE), data on the bourse said today.
The US-based venture capital fund offloaded 123,486,408 equity shares or 1.44% at an average price of ₹91.01 per share.
As on June 30, Internet Fund III Pte Ltd held 1.44% in Zomato Ltd.
In the past year, between July 25 and August 2, the New York-based hedge fund sold more than 18.4 crore shares, or 2.34%, of Zomato in the open market.
According to data available on the bourses, DST Global through its investment firm Apoletto Asia Ltd sold 3,19,80,447 shares at ₹90.10 apiece.
Among those that bought Zomato shares were Axis Mutual Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Founders Collective Fund, Morgan Stanley Asia Singapore, and Societe Generale.
On Monday, Zomato share price closed 1.53% higher at ₹92.33 apiece on BSE.
On the other hand, Star Health and Allied Insurance Company Ltd had a few bulk deal transactions on Monday.
Mio IV Star sold 3,401,639 shares of the Star Health and Allied Insurance Company Ltd at ₹610.20 apiece on BSE on Monday. As of June 30, the foreign investor held 3.66% stake in the company.
Another foregin investor, University of Notre Dame Du LAC, sold 16,658,092 shares of Rekha Jhunjhunwala backed company for ₹610.22 apiece. As of June 30, the foreign investor held 3.17% stake in the company.
On the other side, Fidelity Investment Trust Fidelity Series Emerging Markets Fund, FGTFEBP:Fiam Emerging Markets Opportunities Commingled Pool, and ICICI Prudential Life Insurance Company Ltd bought shares of Star Health and Allied Insurance Company via bulk deal.
Fidelity Investment Trust Fidelity Series Emerging Markets Fund bought 12,376,100 shares of the company at ₹610.20 apiece.
Fiam Emerging Markets Opportunities Commingled Pool bought 3,245,300 shares of the company at ₹610.20 apiece.
ICICI Prudential Life Insurance Company Ltd bought 3,900,000 shares of the company at ₹610.20 apiece.
Star Health share price closed flat at ₹611.55 apiece on BSE.
A bulk deal is a transaction in which at least 5% of a company’s total equity shares are traded all at once. These transactions can take place throughout the regular trading session, unlike block deals. Bulk transactions don’t require the opening of a special window. Additionally, it is possible in the block deal window.