Tiger Global completes exit from Zomato by selling remaining Stake

Tiger Global, an investment firm based in New York, has concluded its exit from the online food delivery platform Zomato by selling its remaining 1.44% stake in the open market on Monday. The transaction involved Tiger Global's Internet Fund III Pte selling approximately 12.35 crore shares at a price of Rs 91.01 per share, resulting in a total sum of around Rs 1,124 crore.

Details of the Stake Sale

According to BSE bulk deal data, Tiger Global's Internet Fund III Pte executed the sale of its remaining stake in Zomato on Monday. The firm sold a significant volume of shares, totaling 12.35 crore, at a rate of Rs 91.01 per share. This strategic move resulted in the generation of approximately Rs 1,124 crore in revenue.

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Zomato's Stock Performance

Over the past six months, the shares of Zomato have witnessed an impressive 73% surge in value. The positive momentum was sustained as the shares concluded trading today, achieving a 1.5% increase and closing at Rs 92.33 on the Bombay Stock Exchange (BSE).

Exiting the Investment

Tiger Global's decision to sell its remaining stake in Zomato marks the completion of its exit strategy from the food delivery platform. This move aligns with the firm's investment strategy and broader financial goals.

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The successful stake sale underlines the dynamic nature of the investment landscape and the continuous evaluation of investment portfolios by firms like Tiger Global. Zomato's performance in the stock market, coupled with strategic decisions by investors, contributes to the ever-evolving dynamics of the technology and investment sectors.