Chinese group Ant Financial sells 1.46% stake in Eternal for Rs 4,097 cr

New Delhi: Chinese billionaire Jack Ma-owned Ant Financial on Thursday made a partial exit by divesting a 1.46 per cent stake in Eternal, the parent company of Zomato and Blinkit brands, for Rs 4,097 crore through open market transactions.

The stake sale comes days after Ant Financial exited One97 Communications, the parent company of Paytm, by selling its entire 5.84 per cent stake for Rs 3,980 crore through open market transactions.

Ant Group through its arm Antfin Singapore Holding Pte Ltd sold a little over 14.13 crore equity shares or a 1.46 per cent stake in Gurugram-based Eternal, as per the bulk deal data on the NSE.

The shares were offloaded at an average price of Rs 289.91 apiece, taking the deal value to Rs 4,096.75 crore.

After the latest transaction, Antfin’s holding in Eternal has come down to 0.49 per cent stake from 1.95 per cent.

Details of the buyers of Eternal’s shares could not be ascertained on the exchange.

Shares of Eternal rose 1.46 per cent to close at Rs 303.20 apiece on the National Stock Exchange (NSE).

Last month, food delivery and quick commerce firm Eternal reported a consolidated net profit of Rs 25 crore for the first quarter.

The company, which re-branded itself as Eternal in March, had reported a net profit of Rs 253 crore a year ago.

During the quarter under review, Eternal’s revenue from operations stood at Rs 7,167 crore, up from Rs 4,206 crore a year ago.

In August last year, Antfin Singapore Holding sold a little over 2 per cent stake in Zomato for Rs 4,771 crore. Prior to that, in March, Antfin pared a 2 per cent stake in Gurugram-based food delivery firm for Rs 2,827 crore.

In 2023, Alipay Singapore Holding, an arm of Chinese e-commerce giant Alibaba, divested its entire 3.44 per cent holding in Zomato for Rs 3,337 crore.