[Update] Antfin Sells Eternal Shares In INR 4,096 Cr Block Deal

Kadensa Offloads Stake In Zomato Worth INR 120 Cr

SUMMARY

As per NSE, Antfin sold 14.13 shares at INR 289.91 to exit the foodtech giant

There was no clarity on who lapped up the shares that flooded the markets

In Q1 FY26, Eternal saw a 90% YoY decline in its consolidated net profit to INR 25 Cr while operating revenue zoomed 70% YoY to INR 7,167 Cr

Update | August 7, 11:40 PM

A day after reports surfaced that Antfin was looking to exit Eternal, the Alibaba Group’s affiliate offloaded 14.13 Cr shares of the foodtech company on Thursday (August 7).

The investor sold the shares at INR 289.91 apiece, translating to INR 4,096.7 Cr block deal.

Original | August 6, 07:40 PM

Antfin, an affiliate of Alibaba Group, is reportedly set to sell 18.8 Cr shares of foodtech major Eternal in a block deal worth around INR 5,375 Cr (about $613 Mn). This comes a day after the investor exited fintech major Paytm.

Citing sources, CNBC Awaaz reported that Antfin has set the floor price for the shares of Zomato parent at INR 285. This is a discount of 4.6% to the stock’s closing price of INR 298.9 today.

As per Eternal’s shareholding available on exchanges, Antfin held a 1.95% stake in the company at the end of June quarter.

The move comes amid rising investor interest in Eternal, driven by strong growth in its quick commerce vertical and decline in its losses. In Q1 FY26, Eternal saw a 90% YoY decline in its consolidated net profit to INR 25 Cr. However, operating revenue zoomed 70% to INR 7,167 Cr on the back of rapid growth in Blinkit.

The quick commerce vertical saw its revenue rise about 40% to INR 2,400 Cr in the June quarter from INR 1,709 Cr in previous quarter. Meanwhile, its adjusted EBITDA loss decreased 9% to INR 162 Cr in the period under review from INR 178 Cr in the previous quarter. With Blinkit slowly emerging as the revenue driver for Eternal, the company’s shares have surged about 20% year to date.

Antfin To Exit Eternal With Multifold Returns

Antfin invested nearly INR 189 Cr in Eternal (then Zomato) in FY19 and FY20. At the time of Zomato’s IPO, the Alibaba affiliate held about 8.1% stake in the food delivery major. While it didn’t sell any shares at the time of IPO, Antfin reduced its stake in multiple tranches in the company over the years.

Starting March 2024, it began selling its stake. In March last year, Antfin sold 2% stake in Zomato for INR 2,827 Cr. A few months later in August, it offloaded Zomato shares worth INR 5,438.5 Cr, bringing down its stake in the company to 2.1%.

Overall, Antfin invested INR 189 Cr in Zomato and is now walking away with over INR 13,640 Cr. This translates to about 72X returns on its initial investment.

Yesterday, Antfin also offloaded about 3.73 Cr shares of Paytm for INR 3,980.7 Cr. It exited the fintech company at a loss of nearly INR 16,000 Cr, as its initial investment of over INR 33,000 Cr yielded returns of only around INR 17,000 Cr.