Zomato is elevating USD 210 million from Alibaba’s fee affiliate Alipay Singapore, which is an present shareholder within the on-line restaurant information and meals ordering agency.
In keeping with a regulatory submitting by BSE-listed Information Edge (India) Friday, Zomato has signed a definitive settlement to undertake a major fund increase of roughly USD 210 million from Alipay Singapore Holding Pte Ltd and/or any of its associates.
Information Edge (India) held 30.91 per cent of the share capital in Zomato Media Personal Ltd.
“…upon the closing of this fund increase, our shareholding in Zomato stands diminished to about 27.68 per cent on absolutely transformed and diluted foundation,” it added.
A Zomato spokesperson confirmed the event however declined to make further feedback.
In February this 12 months, Ant Small and Micro Monetary Providers Group (Ant) had invested about USD 200 million in Zomato, which competes with gamers like Swiggy, FoodPanda and UberEATS.
That is revealed unedited from the PTI feed.