BNP Paribas, Millennium affiliate sell ₹3,265 crore Eternal stake
BNP Paribas Financial Markets and Millennium affiliate Integrated Core Strategies (Asia) sold a combined 9.95 crore Eternal shares in block deals. The Zomato and Blinkit parent had reported Q1 FY27 operating revenue of ₹20,211 crore, up 182% year-on-year.
What happened
BNP Paribas and Millennium affiliate Integrated Core Strategies sold nearly 9.95 crore Eternal shares worth about Rs 3,265 crore. The Zomato and Blinkit parent
Key facts
- BNP Paribas Financial Markets sold 5.09 crore shares at Rs 327.93 each for about Rs 1,671 crore
- Integrated Core Strategies (Asia) sold 4.86 crore shares at Rs 327.90 each for about Rs 1,594 crore
- Combined sale: 9.95 crore shares worth about Rs 3,265 crore
- Q1 FY27 operating revenue: Rs 20,211 crore, up 182% year-on-year
- Q1 FY27 consolidated net profit: Rs 92 crore
- Eternal shares gained 34.29% over six months; closing price Rs 326.15
Why this matters
Eternal’s ability to absorb a large institutional block trade while delivering rapid revenue growth reinforces its strategic relevance and potential access to capital for quick-commerce expansion.
What to watch
- Eternal closing below the block-deal price for multiple sessions
- Further bulk or block deals by large institutional holders
- Sequential slowdown in quick-commerce gross order value or operating revenue growth
- Higher-than-expected dark-store, marketing, or delivery costs
- Blinkit margin guidance, store-opening targets, and capital-allocation commentary
- Changes in foreign institutional ownership or analyst target prices
- Monitor whether Eternal discloses any additional promoter, employee trust, or institutional stake transactions.
- Watch for management commentary on Blinkit contribution margins, dark-store expansion pace, and cash-burn discipline after the revenue-growth print.
- Track block-deal pricing versus the prior close and subsequent delivery volumes to gauge whether the sale was fully absorbed by long-only investors.
- Expect competitors to use any valuation weakness to intensify promotional activity or merchant/partner acquisition in major metros.