Ant Group nets 4X return on investment in Zomato after latest part stake sale

Chinese ecommerce giant Alibaba’s affiliate, Ant Group, sold Zomato shares worth more than Rs 4,772 crore in two block deals Tuesday, taking the total proceeds it has made from selling stake in the food and grocery delivery company till date to Rs 12,521 crore.

Ant Group, which held its stake in Zomato through two entities, had invested Rs 3,246 crore in the company through several tranches between 2018 and 2020.