Alibaba Invests In Zomato

With this latest investment, Zomato has invested a total of Rs 2,300 crore in Blinkit since acquiring the company in August 2022

Bank of America and Morgan Stanley are advisers on the deal, which is likely to be executed later this week on Indian exchanges, said the three sources, who declined to be named as the plan is private

According to media reports, Alibaba Group Holding Ltd plans to sell a stake of about 3 per cent in Indian food delivery firm Zomato worth $200 million through a block deal

Between January and April 2020, Chinese companies and US hedge funds raised their stakes in Byju's, Paytm and many other billion-dollar Indian technology companies

Ant Financial Services Group is also buying $50 million worth of shares in secondary purchases