BNP Paribas and Millennium Sell Eternal Shares Worth Over $3.2 Billion
BNP Paribas and Millennium Management sold nearly 100 million shares of foodtech firm Eternal in block deals cumulatively valued at over $3.2 billion.
French financial services firm BNP Paribas and US-based hedge fund Millennium Management have sold a combined stake of nearly 100 million shares in listed foodtech company Eternal through block deals. The transactions were collectively valued at over ₹3,264.8 crore (approximately $3.2 billion).
According to data from the National Stock Exchange (NSE), BNP Paribas divested 50.9 million shares at ₹327.93 each, raising approximately ₹1,670.9 crore. An affiliate of Millennium, Integrated Core Strategies (Asia) Pte Ltd, sold 49 million shares at ₹327.9 per share, netting close to ₹1,594 crore.
The sale occurred ahead of the MSCI index rejig scheduled for September 1, which is expected to increase the weightage of Eternal's stock. Investors have maintained a bullish outlook on the company, with its shares surging over 30.9% in the past three months.
Eternal has demonstrated strong financial performance amidst a competitive quick-commerce landscape. The company reported a consolidated net profit of ₹92 crore in the first quarter of fiscal year 2027, a significant increase from ₹25 crore in the same period last year. Operating revenue saw a substantial rise of 182% year-on-year and 17% quarter-on-quarter.