US-based Tiger Global exits Zomato after selling the remaining stake for Rs 1,123 crore

Internet Fund III Pte. Ltd, the fund managed by US-based Tiger Global Management, has exited Zomato by selling its remaining 1.44% stake in the food tech giant for Rs 1,123.85 crore via open market transactions.

According to the block deal data on BSE, The investor sold 12.34 crore shares at an average price of Rs 91.01 per share.

Prior to Tiger Global, Uber B.V. sold 61.21 crore shares, amounting 7.8% stake, on August 3 last year at an average price of Rs 50.44.

However, Fidelity Investments and ICICI Prudential Life Insurance bought combined more than 9 crore shares. ICICI bought 4.5 crore shares at an average price of Rs 50.25, while Fidelity bought 5.4 crore shares at an average price of Rs 50.56. Since then, the company has given almost 100% return to its investors.

The current deal comes weeks after Zomato reported a first-ever profit of Rs 2 crore in the first quarter of the current fiscal.

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