Pair trade: Brokerage Citi overweight on Zomato, underweight on Info Edge
Citi’s recommendation came at a time when US hedge fund Tiger Global reduced its shareholding in Zomato by selling 2.34 per cent stake or 18.44 crore shares in a series of bulk deals between July 25 and August 2. The sale was done in a series of open market deals after the mandatory one-year lock-in period for pre-IPO investors ended last week.
