Nov 30, 2022
By: srishti.magan@timesinternet.in
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2022 has seen several bulge-bracket investors putting on the block chunks of their stakes in companies like Paytm, Zomato and Nykaa among others. Here’s what the top guns sold in 2022:
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China-based internet conglomerate Alibaba is reported to be selling a 3.07 percent stake in the food-delivery company Zomato for approximately $193 million on Wednesday.
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Large shareholders have been selling Zomato stock ever since the lock-in period for its IPO ended in August. Uber Technologies exited the food aggregator platform by selling its entire 7.8 percent stake in a deal worth ₹3,087 crore ($390 million) via a block deal.
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On November 17, Japan’s SoftBank group sold a 4.5 percent stake in the financial services and digital payment giant Paytm, through block deals worth $200 million for 29.35 million shares. Its shares fell by over 9 percent after the sale.
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After the mandatory lock-in period for pre-IPO investors of fashion and beauty e-retailer Nykaa Nykaa came to an end on November 10, private equity major TPG growth sold 54.2 million shares on November 18, at a price of ₹184.55 apiece, through a block deal worth ₹1,000 crore.
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After investment firm Segantii India Mauritius sold over 33 lakh shares in Nykaa for ₹199.24 apiece on November 15, private equity firm Lighthouse India also sold nearly 1.8 crore shares in a block deal worth ₹320 crore on Tuesday, November 22. Following the deal, shares of Nykaa fell by 4 percent.
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In November, CA Swift Investments, which originally owned 5.07 percent stake in supply chain company Delhivery, also divested 2.5 percent stake, selling over 1.8 crore shares for a deal worth ₹607 crore.
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Tiger Global Management, through Tiger Global Eight Holdings and Internet Fund III Pte, sold over 1 crore shares in PB Fintech for ₹522 crore, divesting 2.98 percent stake. PB Fintech is the parent company of Policybazaar and Paisabazaar.
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Multiple reports about China’s Fosun Pharma planning to sell stakes in Indian drugmaker company Gland Pharma for a deal worth $3.8 billion surfaced online. Gland Pharma, however, denied these reports, stating it was not aware of any information pertaining to a stake sale by Fosun Pharma.
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