Eternal Ltd., parent company of food delivery aggregator Zomato and Quick-commerce operator Blinkit will likely see a block deal on Thursday, August 7, where Antfin is said to be the seller.According to available data, Antfin is likely to sell 18.85 crore shares as part of the block deal in Eternal. The number of shares that Antfin plans to sell, amounts to 2% of the company’s outstanding equity.
This is a clean out trade as according to the June quarter shareholding pattern, Antfin had a 2% stake in Eternal.
Floor price for the block deal has been fixed as ₹285 per share, which is a 5% discount to Eternal’s closing price on Wednesday.This will mark the second exit from Antfin this week after the Alibaba unit sold its remaining stake of just over 5% in payments aggregator Paytm.
Antfin’s exit from Paytm came at a loss of nearly $2 billion as its initial investment of over ₹33,000 crore, fetched it returns of only ₹17,000-odd crore.
Shares of Eternal ended 0.7% lower on Wednesday at ₹300. The stock has risen 16% in the last one month.
