The shares of the chinese e-commerce giant Alibaba were offloaded at an average price of ₹62.06 apiece, taking the transaction value to ₹1,631.39 crore.
On Wednesday, Camas Investments Pte, an wholly-owned subsidiary of Singaporean sovereign wealth fund Temasek acquired 9.80 crore shares of the firm.
As of quarter ended September, Alibaba through its affiliates – Antfin Singapore Holding and Alipay Singapore Holding – owned about 13% stake in the company, data with the bourse showed.
Buying by Temasek offered support to the stock and helped Zomato end higher on the NSE. However, the stock has fallen more than 52% so far in 2022.
The development came months after Uber Technologies sold its 7.8% stake in Zomato for $392 million via a block trade on local exchanges.
On Wednesday, shares of Zomato closed 3.54% higher at ₹65.80 ascrip on the NSE.
