The stake sale to the subsidiary of Chinese e-commerce giant Alibaba, values the online food ordering biz Zomato at $1.1bn, and has seen law firms AZB, Trilegal and JSA secure roles.

Zomato has raised $150m from Ant Small and Micro Financial Services Group (Ant Financial), which is a payments affiliate, in addition to buying another $50m from existing shareholder InfoEdge, as reported by Medianama.

AZB & Partners Delhi partner Vinati Kastia is acting for Zomato and its founders, with partner Abhishek Shinde and senior associate Ankit Tandon.

Trilegal partner Rohan Ghosh Roy is acting for Ant Financial, together with senior associates Anurag Srivastava and Jeet Chaudhuri, as well as associates Tanay Shah, Vinit Patwari, Divyajyot Verma and Pujitha Gullapalli.

The J Sagar Associates (JSA) team of partners Rohitashwa Prasad and Swetha Prashant, and associate Anshu Bansal acted for selling shareholder InfoEdge, which is selling a 6.66% stake in Zomato to Ant Financial for $50 million. InfoEdge will, together with its subsidiary Naukri Internet Services, will reduce its stake from 44.74% to 30.91%, but will remain the biggest single shareholder.

Update 10 February 2018: Shardul Amarchand Mangaldas partners Raghubir Menon and Ekta Gupta and with senior associate Taranjeet Singh acted for shareholder Temasek.

The transaction is expected to close on 15 April 2018.