New Delhi, Oct 12 (PTI) Zomato is raising USD 210 million from Alibaba's payment affiliate Alipay Singapore, which is an existing shareholder in the online restaurant guide and food ordering firm.

According to a regulatory filing by BSE-listed Info Edge (India) Friday, Zomato has signed a definitive agreement to undertake a primary fund raise of approximately USD 210 million from Alipay Singapore Holding Pte Ltd and/or any of its affiliates.

Info Edge (India) held 30.91 per cent of the share capital in Zomato Media Private Ltd.

"...upon the closing of this fund raise, our shareholding in Zomato stands reduced to about 27.68 per cent on fully converted and diluted basis," it added.

A Zomato spokesperson confirmed the development but declined to make additional comments.

In February this year, Ant Small and Micro Financial Services Group (Ant) had invested about USD 200 million in Zomato, which competes with players like Swiggy, FoodPanda and UberEATS.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)