Eternal block deal: BNP Paribas buys Rs 1,484 cr shares

Eternal shares ended with 5% gains on Friday, likely riding on a block deal where BNP Paribas Financial Markets bought shares worth Rs 1,484 crore in the food delivery company.

BNP Paribas Financial Markets, which is an arm of French multinational bank BNP Paribas, today bought over 6.24 crore shares at a price of Rs 238.25 a piece. The deal is worth Rs 1,489 crore. In a separate block deal, it also sold nearly 1.9 lakh shares at a price of Rs 239.95, taking the deal size to Rs 4.5 crore. On a net basis, shares worth Rs 1,484 crore were purchased.

Eternal shares were purchased by BNP Paribas at a premium of 4.3% over the Thursday closing price of Rs 228.37 on the NSE.

The deal followed a reduction in the Foreign Ownership Limit (FOL) by FTSE. In FTSE All World Index, the investability weighting of the stock went down from 82.74% to 49.5%.

Also Read: Eternal may see outflows worth $840 million following FTSE, MSCI's weight cuts

Eternal saw its net profit fall by 78% year-on-year (YoY) to Rs 39 crore in the March 2025 quarter. Revenue from operations increased 64% YoY to Rs 5,833 crore. Profitability was hit by higher expenses, which jumped as much as 68% YoY to Rs 6,104 crore.

The drop in profit was also attributed to higher investments in expanding the company’s quick commerce vertical, Blinkit, as well as increased infrastructure costs across segments.

Adjusted EBITDA during the fourth quarter declined 15% YoY to Rs 165 crore.

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