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Zomato has interest from other investors, says InfoEdge’s Bikhchandani

During InfoEdge’s earnings call on June 23, which owns a 22.71% stake in Zomato, InfoEdge founder and vice chairperson Sanjeev Bikhchandani had said that the funding from Ant Financial was yet to come but they had investor interest from other investors who don’t need any permission to invest in an Indian company. But the Financial Times reported on Sunday (July 5) that Zomato’s $100 million funding from Ant Financial, a sister company of Alibaba, has been scuppered by the recent Indo-China tensions. “There has been substantive, there was immediate substantial hit because restaurants are closed, delivery boys don't travel out, some delivery boys have gone home to their hometowns,” Bikhchandani said during the earnings call, but as restrictions are easing up and restaurants are re-opening, “there has been a bit of bounce back”. It is still well below the levels…

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