CosmicTaco

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

CosmicTaco · 2024-08-21T11:03:48.857918+05:30

- 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](https://economictimes.indiatimes.com/tech/technology/ant-group-nets-4x-return-on-investment-in-zomato-after-latest-part-stake-sale/printarticle/112661054.cms)

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

4mo ago

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