Antfin to Exit Zomato Parent Eternal Ltd with ₹5,375 Cr Block Deal; Marks Second India Exit in a Week

Antfin Singapore Holding Pte Ltd, backed by Alibaba, is set to completely exit its investment in Eternal Ltd, the parent company of Zomato and Blinkit, through a major block deal estimated at ₹5,375 crore. According to sources, the firm will offload around 18.84 crore equity shares at a floor price of ₹285 per share, which represents a 5% discount to Eternal's last closing price of ₹300.05 on the NSE.

This move will mark Antfin’s full divestment of its 1.95% stake in Eternal Ltd. The number of shares to be sold represents approximately 2% of the company’s total outstanding equity, as reflected in the June 2025 shareholding pattern. The deal is being classified as a clean-out trade, indicating a complete exit from the company.

This transaction also marks Antfin’s second major exit from the Indian market within a week. Just a day earlier, Antfin (Netherlands) Holding B.V. had sold its entire 5.84% stake in One97 Communications, the parent firm of Paytm. Ant Group had initially held a significant share in Paytm but has been gradually reducing its stake since the fintech company went public in 2021. In May 2025, it had sold an additional 4% stake worth ₹2,103 crore. Despite this, Ant Group still held about 10% in Paytm as of March 2025.

Meanwhile, Eternal Ltd, which owns Zomato and Blinkit, reported a sharp 90% year-on-year decline in consolidated net profit for Q1FY26, plunging to ₹25 crore from ₹253 crore in the same period last year. On the upside, the company’s revenue surged 70% YoY to ₹7,167 crore, fueled by robust performance in both food delivery and quick commerce segments.

This strategic divestment signals Antfin’s ongoing recalibration of its India portfolio, possibly reflecting broader investment realignment trends among Chinese firms operating in the region.