Tech
Ant Financial to net nearly 6X return on investment from Zomato parent stake sale
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Chinese ecommerce giant Alibaba’s affiliate, Ant Financial, is set to sell its remaining 1.9% stake in Zomato and Blinkit parent Eternal on Thursday through block deals that will generate Rs 5,370 crore at the floor price.
The deal will take Ant Financial’s total proceeds from selling its stake in the food and grocery delivery company to more than Rs 18,000 crore, or nearly six times its investment of Rs 3,246 crore. It had made the investment in several tranches between 2018 and 2020 and held the stake through two entities.
According to a term…
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