All global biggies that cashed out of Indian companies in 2022

Nov 30, 2022

By: Srishti Magan

Multiple block deals in 2022

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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Alibaba to offload over 3 percent stake in Zomato

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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Uber Technologies sold 7.8 percent stake in Zomato

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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SoftBank sold 4.5 percent stake in Paytm

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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TPG Growth offloaded 1.9 percent stake in Nykaa

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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Lighthouse India sold shares worth ₹320 Cr in Nykaa

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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CA Swift Investment sold 2.5 percent stake in Delhivery

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 offload 2.98 percent stake in Policybazaar’s parent company PB Fintech

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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Fosun Pharma to sell stake in Gland Pharma

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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