Ant Group Nets 4X Return on Investment in Zomato After Latest Stake Sale

• Ant Group, an affiliate of Alibaba, has achieved a fourfold return on its investment in Zomato after selling shares worth over Rs 4,772 crore
• The Chinese ecommerce giant initially invested Rs 3,246 crore in Zomato between 2018 and 2020 and has now pocketed Rs 12,521 crore from its stake sales.
• Zomato's stock has been rising, driven by the growing value of its quick-commerce unit Blinkit, which UBS values at $15.4 billion, surpassing Zomato's main food delivery business.

Source: Economic Times