Related News

Nasa’s Artemis II mission, which recently completed a wet dress rehearsal and was targeting an early March launch window, may now face delays after engineers detected an interruption in helium

Sam Altman, CEO of OpenAI, is pictured on Sept. 25, 2025, in Berlin. Florian Gaertner | Photothek | Getty Images OpenAI is telling investors that it’s now targeting roughly $600

Pavlo Gonchar | Lightrocket | Getty Images Shares of RingCentral and Five9 surged on Friday after earnings from both software firms alleviated recent fears that artificial intelligence is eating away

Nasa on Friday set March 6 as the earliest possible launch date for Artemis II, the first crewed mission to fly around the Moon in more than five decades.Senior Nasa

A California judge admonished members of Mark Zuckerberg’s team for wearing Ray Ban-Meta AI glasses, which are equipped with a camera, as they entered a Los Angeles courtroom on Wednesday

Mark Zuckerberg faces intense questioning in social media addiction trial – CBS News Watch CBS News Mark Zuckerberg took the stand on Wednesday to fight off allegations that Instagram was

Trending News

In today’s digital age, the opportunity to make money online without any initial investment is more accessible than ever before. Whether you’re a student looking to earn some pocket money,

In today’s digital world, make money online has become a dream many want to turn into reality. Whether you’re looking for a side hustle or aiming to build a full-time

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

Ant Group to exit Eternal, sell shares worth $612mn

Word Count: 571 | Estimated Reading Time: 3 minutes


Ant Group to exit Eternal, sell shares worth $612mn

MUMBAI: China’s Ant Group will exit Eternal (formerly Zomato) by selling its remaining 1.9% stake worth Rs 5,370 crore ($612 million) through one or more block deals on Thursday, term sheet of the deal showed. This will be the second startup exit for the Chinese firm this week after Paytm. Ant Group, an affiliate of Chinese tech giant Alibaba Group, had first invested in Eternal in early 2018.Ant Group, through Antfin Singapore Holding, will offload 18.8 crore shares at a floor price of Rs 285 per share, a 4.6% discount to Eternal’s closing price of Rs 298.85 on the NSE on Wednesday. Eternal did not comment on the development when contacted by TOI.Ant Group has been paring stakes in Eternal since last year. In Aug 2024, it had nearly halved its stake in the company to a little over 2% through two separate block deals worth over Rs 4,000 crore. An early backer in local startups, the Chinese investor seems to be reducing its India exposure. Earlier this week, Ant Group exited fintech Paytm by selling its remaining 5.8% stake worth over Rs 3,000 crore. Eternal’s founder, Deepinder Goyal, currently holds about 3.8% stake in the company. Goyal, however, is not classified as a promoter.With businesses in food delivery and quick-commerce, Eternal has capped its foreign shareholding at 49.5%. As of June 2025, the foreign shareholding was about 43%, the company said in a recent letter to shareholders.





Source link

Most Popular Articles