Alibaba Group to sell 26.29 crore Zomato shares on November 30

Chinese internet conglomerate Alibaba Group is selling 262.9 million shares in Zomato, representing 3.07% stake in the food-tech company, for around $193 million through a block deal.

The sale will take place on Wednesday at an offer floor price of Rs 60 per share – a 5.59% discount to Tuesday’s closing price of Rs 63.55 apiece on the BSE, according to a term sheet issued by investment banker Morgan Stanley, which is brokering the deal.