Motilal Oswal mutual fund sold Rs 645 crore worth of shares in Zomato

Mumbai-based Motilal Oswal Mutual Fund sold a 0.32% stake in Deepinder Goyal-led food delivery giant Zomato in an open market transaction on Tuesday for Rs 645.8 crore. 

According to block deal data on the NSE, Motilal Oswal Mutual Fund sold 2.84 crore shares at Rs 226.85 per share.

Who bought the shares?

On the other hand, Societe Generale acquired a 0.14% stake, and Polar Capital Funds Plc-Global Technology bought a 0.07% stake at Rs 226.85 per share. 

The development came after Zomato's market cap surpassed Rs 2 lakh crore. The company's share hit an all-time high of Rs 232 per share on Monday after it announced a 20% hike in the platform fee from Rs 5 to Rs 6 in Delhi, Bengaluru, and Mumbai.

Deepinder Goyal's entry into the billionaire club

Following this, Goyal, who holds around 4.24% stake, became India's newest billionaire with a net worth of around $1.01 billion (approximately Rs 8,423 crore).

Goyal, who recently married Mexican model Grecia Munoz, owns about 36.95 crore shares in Zomato.