BNP Paribas & Millennium Sell 10 Cr Eternal Shares In ₹3,265 Cr Block Deals
French financial services giant BNP Paribas and US-based hedge fund Millennium Management sold over 9.9 Cr shares of listed foodtech…
BNP Paribas and Millennium Management jointly sold a significant portion of Eternal, the foodtech company, in two block deals, raising over ₹3.26 billion. BNP Paribas sold 5.09 Cr shares at ₹327.93 each, while Millennium's affiliate, Integrated Core Strategies (Asia) Pte Ltd, sold 4.9 Cr shares at ₹327.9 per share. The shares were purchased at a premium of 0.06% compared to the stock's closing price on Monday.
Prior to this, MSCI index revisions were set to increase Eternal's weightage, and Eternal's stock price surged 30.9% in three months, with a 18% YTD increase. The company reported a strong Q1 FY27 performance, with a consolidated net profit of ₹92 Cr and revenue growth of 182% YoY. The sharp price increase can be attributed to Eternal's impressive financial performance despite intense competition in the quick commerce sector and new entrants like Rapido's Ownly and potentially Flipkart.
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