Latest news with #AntFinancial
News18
4 days ago
- Business
- News18
Chinese group Ant Financial sells 1.46 pc stake in Eternal for Rs 4,097 cr
Agency: PTI New Delhi, Aug 7 (PTI) 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. Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group. 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. PTI HG HG MR view comments First Published: August 07, 2025, 20:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
5 days ago
- Business
- Time of India
Ant Financial to net nearly 6X return on investment from Zomato parent stake sale
Academy Empower your mind, elevate your skills 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 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 to a term sheet seen by ET, Ant Financial will sell Eternal 's stock at a floor price of Rs 285 apiece, a 5% discount to the company's closing stock price of Rs 298.90 on the BSE Chinese firm's move comes days after it fully exited fintech company Paytm , selling its 5.8% market capitalisation as on Wednesday stood at Rs 2.9 lakh crore, or around $33 billion. The company's stock price had scaled highs until December last year on the back of its market leadership in the buzzing quick commerce sector. However, as cash burn increased in the highly competitive space, the share price started management's outlook on Blinkit's margins improving , analysts have revised their view on Eternal's stock.'Growth remained strong, and outlook on margins has improved, as worst seems behind on competition, along with upside from 1P (Blinkit's transition to inventory-led model). Food delivery growth moderated, but management expects a pick-up with range-bound short-term margins,' Jefferies said in a note following the company's quarterly results in July. 'Progress in quick commerce suggests that our concerns on competition, which led to the downgrade in January, were unfounded.'The brokerage firm had also upgraded Eternal's stock to 'Buy'.Eternal posted a 90% fall in net profit to Rs 25 crore in the June quarter, despite a 70% jump in revenue to Rs 7,167 crore.
Deccan Herald
5 days ago
- Business
- Deccan Herald
Paytm now as Indian as Tata with zero Chinese ownership, 100% Made in India
The mobile payments company is 100 per cent Indian-owned after Jack Ma's Ant Financial exited One97 Communications, the parent company of Paytm, by selling its entire 5.84 per cent stake for around Rs 3,803 crore.
Time of India
5 days ago
- Business
- Time of India
Ant Financial exits Paytm; sells 5.84% for Rs 3,803 crore
Mumbai: Billionaire Jack Ma 's Ant Financial on Tuesday exited One97 Communications , the parent company of Paytm , by selling its entire 5.84% stake for around ₹3,803 crore. Following the stake sale , shares of One97 Communications fell 1.45% to ₹1,062 apiece on NSE , while the scrip of the company went lower by 1.23% to ₹1,065 on BSE. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Here's What A New Gutter System Should Cost You In Greenville HomeBuddy Click Here Undo Ant Group, through its affiliate Antfin (Netherlands) Holding BV, has offloaded the shares of Noida-based One97 Communications. Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group.
Time of India
6 days ago
- Business
- Time of India
China's Ant to exit Paytm in ₹3.8k cr deal
Mumbai: China's Ant Group will exit Paytm by selling its remaining 5.8% stake in the company through one or more block deals worth at least Rs 3,800 crore (about $434 million) on Tuesday, a term sheet showed. Tired of too many ads? go ad free now Ant Group (formerly Ant Financial), one of the early investors of the Noida-based fintech is an affiliate of Chinese tech giant Alibaba Group. After this deal, Paytm will have no Chinese ownership. Ant Group will sell about 3.7 crore shares in Paytm at a floor price of Rs 1,020 per share, a 5.4% discount to Paytm's closing price of Rs 1,078 on the NSE on Monday. Paytm declined to comment. Ant Group has been paring its exposure to the fintech - it sold a 4% in the company through block deals worth over Rs 2,000 crore in May this year. In 2023, Paytm founder Vijay Shekhar Sharma had bought a 10.3% stake in the firm worth $628 million from Ant Group to shore up his stake in the company and cut Chinese ownership. Alibaba had exited Paytm through a block deal in early 2023. "There's been a trend among Indian companies to reduce Chinese shareholding given the broader national sentiment," said an analyst on condition of anonymity. Sharma holds about a 9% stake in the firm, recent shareholding data showed. Paytm, which had come under regulatory scrutiny last year following RBI's move to wind down its banking unit due to non-compliance, swung back to profit in the June quarter. Over the past couple of years, SoftBank and Berkshire Hathaway exited Paytm. "From an investment standpoint, Ant Group perhaps doesn't see the same potential in Paytm compared to its first investment," independent fintech consultant Parijat Garg told TOI.
