Alibaba Group Holding Ltd (Alibaba) will be selling $200 million worth of Zomato shares in a block trade.

The price is said to be 5 to 6 percent below book value. 

The company's share price has plunged by 54.6 percent in the past year.

While the Nifty 50 has given positive returns of 7 percent.

A number of private market investors have already pounced on Zomato shares.

A block trade will only add to the supply of tradeable Zomato shares in the market.

Alibaba's stake in the company stands at 13%, making it one of the biggest shareholders.

Zomato has been on a downswing in recent times, and has initiated layoffs in order to shrink its workforce by 4 percent.

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