Antfin Singapore Holding Pte., an Alibaba Group affiliate, has offloaded shares worth Rs 4,097 crore ($482 million) from Eternal Ltd., Zomato's parent company, in a bulk deal. According to stock exchange data, 14.13 crore shares were sold for Rs 289.91 each.
While the buyers' identities are unknown, this marks another significant divestment by the Chinese investor in the Indian internet ecosystem. As of June 2025, the firm owned 18.84 crore shares of Eternal, accounting for 2.08% of the company. Following the latest sale, its holding is expected to fall below 0.52%, if not complete the exit.
Key Highlights
- Antfin sells 1.46% stake in Eternal for ₹4,097 crore via bulk deal at ₹289.91/share.
- Eternal shares rose 1.46%, while Ant Financial nets nearly six times return on exiting investment.
This is not Antfin's first divestment from Eternal. In August 2024, it sold 18.54 crore shares for Rs 257.4 each, totaling Rs 4,772 crore ($561 million). According to the company's regulatory filings, it sold 17.63 crore shares for Rs 160.4 each in March, raising Rs 2,827 crore ($332 million).
Antfin was Eternal's fourth largest shareholder at the time of filing its draft red herring prospectus (DRHP), trailing only Info Edge, Uber B.V., and Alipay, with 55 crore equity shares, equating to an 8.19% stake.
Alipay, another Alibaba affiliate, exited Zomato in November 2023, selling its remaining stake for Rs 112.7 per share. At the time, buyers included Goldman Sachs, Fidelity, Morgan Stanley, Vanguard, SocGen, ADIA, and ICICI Prudential.
In a separate transaction earlier this week, Antfin (Netherlands) Holding B.V. completely exited One97 Communications, the parent company of Paytm, by selling its 5.84% stake in a block deal valued at around Rs 3,800 crore.
In terms of financials, Eternal, Zomato's parent company, reported a 70% year-on-year increase in revenue to Rs 7,167 crore in Q1 FY26, while profit fell 90% to Rs 25 crore, compared to Rs 253 crore in Q1 FY25. The company is currently trading at Rs 300.7 per share (as of 11.15 AM) and has a market capitalization of Rs 2,90,234 crore ($34 billion).
