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Motilal Oswal mutual fund offloads 4.5 Cr shares of Zomato in INR 621 Cr block deal

Inc42 · 1y

Motilal Oswal Mutual Fund has sold 4.5 crore shares of Zomato in a block deal worth INR 621.6 crore. The shares were purchased by BNP Paribas, Citigroup, Goldman Sachs, Morgan Stanley, and Societe Generale. Zomato's shares fell nearly 3% during early trading but ended the session 4.44% lower on the BSE. This comes after HSBC, Goldman Sachs, and Jefferies raised their price targets for Zomato due to expectations of strong growth in its food delivery and quick commerce verticals. Zomato reported profitable quarters in Q1 and Q2 of FY24.