Ant Financial, a part of Alibaba Group, has officially sold off its remaining stake in Eternal, the parent company of Zomato and Blinkit. This move marks the end of its investment journey that began in 2018. Ant had invested around ₹3,246 crore over the years, and now, with the final sale of shares worth ₹5,370 crore, it has turned that into a whopping ₹18,000+ crore in total returns. That’s more than five times the original investment!
Shares Sold at a Small Discount
The latest sale involved 1.9% of Eternal’s stake, and it was sold at a slight discount to the company’s current market price. While the market value of Eternal stands strong at $33 billion, this sale shows Ant’s strategy to exit completely at a time when Zomato and Blinkit are gaining investor attention again.
Revenue Up, But Profits Down
This quarter, Eternal’s revenue grew massively by 70%, crossing over ₹7,100 crore. However, profits saw a drop, falling to just ₹25 crore. Even with this dip in profit, analysts are positive. Big names like Jefferies have upgraded the stock to “Buy”, especially because of Blinkit’s improved business model and steady growth in Zomato’s food delivery operations.
Blinkit’s Strong Performance
Blinkit, once struggling to stay afloat, is now becoming a major driver of Eternal’s growth. The company’s new strategy around quick commerce (delivering groceries in 10 minutes) has attracted a lot of attention from both users and investors. This boost is helping Eternal balance out its food delivery segment, which is also seeing growth despite rising competition.
Rising Competition in Food & Grocery Delivery
Zomato and Blinkit are not alone in this race. They face strong competition from Swiggy, Instamart, Zepto, and BigBasket. These companies are also trying to win over customers with fast deliveries and better prices. However, Eternal’s brands seem to have an edge in terms of tech, reach, and now even profitability.
What Does This Mean for the Market?
Ant Financial’s exit shows that international investors see India as a market where they can make huge profits in just a few years. It also means that Indian companies like Zomato and Blinkit are maturing fast. This may attract new global investors looking for the next big opportunity in the Indian tech space.
With strong revenue growth, backing from analysts, and a sharper business focus, Eternal is expected to remain in the spotlight. Investors are closely watching Blinkit’s growth and how Zomato keeps up with changing customer habits. Even though Ant is cashing out, many believe the real journey for Eternal is just getting started.
Huge Losses From Paytm.
Few days earlier, Ant Group has announced full exit from its investment in Paytm’s parent, One97 Communications, incurring a significant loss estimated at around ₹15,700 crore. Despite investing approximately $851 million since 2015, Ant Group’s total divestment proceeds from stake sales amounted to only about ₹5,900–6,000 crore, reflecting a steep decline in value post-Paytm’s IPO.
