Zomato Shares Surge Amid Alipay Stake Sale Via Block Deal | Stock Market News

Zomato Ltd shares surged 4% on November 29, driven by a massive block deal. A total of 29 crore shares were traded at Rs 112 per share, amounting to Rs 3,248 crore. Alipay Singapore Holding Pte Ltd was the likely seller, offloading its entire 3.44% stake in the company. The block deal was executed at a 2.2% discount to Nov 28's closing price of Rs 113.80. Zomato's stock has gained nearly 90% year-to-date.