Eternal Bulk Deal: Alibaba Group's Antfin Offloads Rs 4,097-Crore Stake
The shareholder offloaded 14 crore shares of Eternal at Rs 289.91 per share.
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Alibaba Group affiliate Antfin Singapore Holding Pte. offloaded a stake in Eternal Ltd., the parent of Zomato, via a bulk deal worth Rs 4,097 crore on Thursday.
The shareholder offloaded 14 crore shares at Rs 289.91 apiece. However, the details for the buyers were not known.
NDTV Profit had reported on Wednesday that Antfin is looking to sell its stake in Eternal.
Antfin held nearly 18.84 crore shares representing 2.08% stake in the Zomato parent till the end of June 2025 quarter, as per the shareholding data available with the stock exchanges.
In 2024, Antfin Singapore Holding Pte. offloaded stakes in Zomato Ltd. for $408 million. A total of 13.6 crore shares was sold at a floor price of Rs 251.68 apiece, amounting to Rs 3,422 crore as the total deal value. The firm had a 4.24% stake in the food delivery company as of June 2024. By March 2025, the stake came down to 1.95%.
Eternal recently approved its foreign institutional investor holding cap at 49.5%. The FII holding as of the June 2025 quarter was at 42.34%. After the Antfin stake sale, the FII holding of Eternal will come down to 40.39%.
This also comes days after Antfin (Netherlands) Holding B V has pared its entire stake in Paytm parent One97 Communications Ltd. The seller offloaded its entire stake of 5.84% in two tranches of 1.86 crore shares, at Rs 1,067.53 and Rs 1,067.63 per share respectively, above the floor price of Rs 1,020 apiece.
Share Price
The business update was shared after market hours. The stock settled 0.97% higher at Rs 301.75 apiece on the NSE, compared to a 0.09% advance in the benchmark Nifty 50. Eternal's shares have risen 13.58% in the last 12 months and 8.52% year-to-date. The average 12-month consensus price target of Rs 310 implies an upside of 2.7%.
