Tiger Global completes its exit from Zomato by selling off its remaining stake

Tiger Global, a technology investment company, recently sold over 184 million shares of Zomato, a food delivery service. This means they had a small ownership of about 2.34% in the company. They made these sales over a few recent trading days, as mentioned in a document filed with the stock exchange.

Tiger Global recently sold some of its Zomato shares. They sold these shares between July 25 and August 2 in the open market. After selling, they now own about 2.77% of the company. The document doesn't say exactly how much money they got from the sale, but based on the average price of Zomato's stock during that time, it's estimated to be around ₹863.2 crore or about $109 million.

During this sale, Tiger Global joined others like Uber and Moore Strategic Ventures in selling Zomato shares after the lock-in period ended. Uber, the second largest shareholder, sold its 7.78% stake for about ₹3,087.9 crore to Fidelity and ICICI Prudential. Earlier, on July 26th, Moore Strategic Ventures Lip sold its entire stake in Zomato for ₹187.1 crore at a price of ₹44 per share.

After waiting for 12 months, some investors sold their Zomato shares, but they didn't make as much money as they hoped because the company's stock price recently dropped. This happened because many investors around the world are being cautious about investing in technology companies.

Zomato began selling its shares in July last year for ₹76 each. The price went up to ₹169 per share in November but has now dropped to ₹57.75 as of Thursday, and it even fell to ₹40.55 last month.

According to report Zomato's IPO details, Uber got shares at a cost of ₹22.47 each. Tiger Global received shares at two different times: at the end of 2020 for ₹44.81 and early in 2021 for ₹58.20, as mentioned in Zomato's IPO information.