Alibaba-backed Antfin Singapore Holding Pte Ltd is likely to sell its entire stake in Eternal Ltd, the parent of Zomato, for Rs 5,375 crore through block deal, reported CNBC-Awaaz on August 6 citing sources.
The channel reported that Antfin will sell 18.84 crore shares of the delivery tech company and floor price has been fixed at Rs 285 apiece. The floor price represents 5% discount to the current market price of Zomato shares.
Morgan Stanley is likely to be the broker to the deal.
As of June 2025, Antfin Singapore Holding Pte Ltd held 1.95% stake or 18.84 crore shares in Eternal Ltd, showed exchange data.
Last month, Eternal reported a more than 70% rise in June quarter revenue on Monday, as its quick commerce order value surpassed that of its food-delivery business for the first time, boosting earnings.
In the June quarter, Blinkit's net order value surged 127% to Rs 9,203 crore, overtaking Zomato's for the first time, the company said.
That powered a surge in Eternal's revenue from operations to Rs 7,167 crore, compared to Rs 4,206 crore a year earlier.
However, its consolidated net profit slumped 90% to Rs 25 crore, weighed by higher costs at Blinkit.
Separately, Chinese billionaire Jack Ma's Ant Financial August 5 exited One97 Communications, the parent company of Paytm, by selling its entire 5.84% stake for Rs 3,980 crore through open market transactions.
Ant Group, through its affiliate Antfin (Netherlands) Holding BV, offloaded around 3.73 crore equity shares of Noida-based One97 Communications in large deals. Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group.
Ant Group had been shedding its stake in Paytm after the listing in 2021. At the end of March 2025, the Chinese fintech giant had nearly 10% stake in Paytm.
In May this year, Ant Group offloaded more than 2.55 crore shares or a 4 per cent stake in One97 Communications for Rs 2,103 crore.
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