Jack Ma's Ant sells more of its stake in Eternal
Ant Financial, part of Alibaba and owned by Jack Ma, just sold 1.46% of its stake in Eternal—the company behind Zomato and Blinkit—for ₹4,097 crore on a Thursday.
This follows their earlier exit from Paytm last year.
Basically, Ant is steadily pulling back from its Indian investments.
After the sale, Eternal's stock price nudged up a bit
Ant sold over 14 crore shares at around ₹290 each, dropping its holding in Eternal from nearly 2% to less than half a percent.
After the sale, Eternal's stock price nudged up a bit to ₹303.20 on the NSE.
The buyers? Still a mystery for now.
For young investors and startup watchers
Eternal posted only ₹25 crore in profit for Q1 FY25—a sharp drop from last year—despite strong revenue.
For young investors and startup watchers, this is another sign that global giants like Ant are rethinking their India bets and cashing out after years of backing local tech brands many of us use daily.