The domestic mutual fund firm sold 4.5 crore shares or 0.5% stake in Zomato at Rs 138.15 a share, according to block deals data on the National Stock Exchange.
As of December-end, Motilal Oswal MF held a 1.83% stake in the new-age consumer technology major.
The selling exerted pressure on the stock, as it closed 4.4% down at Rs 133.40 on the NSE. The selling price was at a slight discount to Friday’s closing price of the stock.
Thanks to the rally in Zomato over the last one year, which turned it into a multibagger, the MF made handsome gains from the sale.
Meanwhile, foreign portfolio investors showed strong interest in the stock, as Societe Generale, Morgan Stanley, Citigroup Global Markets, BNP Paribas, and Goldman Sachs bought it through separate block deals.
Societe Generale bought 3.3 crore shares of Zomato, Goldman Sachs bought 45,00,000 shares, Morgan Stanley purchased 39,00,000, Citigroup picked 24,00,000 shares, and BNP Paribas bought 12,00,000 shares. All of them purchased the shares at Rs 138.15 apiece. (Subscribe to ETMarkets WhatsApp channel)
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