Block deal today: Eternal stock in focus as Rs 1,500 cr worth shares to change hands today

Shares of Eternal Ltd are in focus as a total of 5.2 crore shares are likely to change hands for Rs 1,500 crore ($167 million at) via block deals. An undisclosed institutional investor is looking to sell shares, accounting for 0.5 per cent of the company's stake, at a floor price of Rs 289.50 apiece, which is at 1 per cent discount to the latest closing price on NSE. BofA Securities India Limited is the placement agent and an option has been kept to upsize the deal size, if needed. The deal will be bulk sale by way of one or more share sales on the screen-based trading platform of Indian stock exchanges, as per the term sheet.

Eternal is 94.29 per cent owned by public. Mutual funds held 24.68 per cent stake in the company; foreign portfolio investors such as Camas Investments, Df International Partner and Government Pension Fund Global owned 41.40 per cent stake at the end of Q2. Deepinder Goyal held 3.83 per cent stake while Info Edge (India) owned 12.38 per cent stake in Eternal, as per September quarter shareholding pattern.

The stock is down 11.18 per cent in the past three months compared with a 6.20 per cent rise for the BSE Sensex and a 1.72 per cent drop in the BSE Consumer Discretionary index. 

For the September quarter, Eternal's food net order value (NOV) grew 14 per ecnt YoY, improving from 13 per cent YoY NOV growth in the previous quarter. The growth rate seemed to have bottomed out in Q1FY26, and is starting to recover, albeit slowly, Eternal had said. 

"On the margin front, Adjusted Ebitda margin (as a % of NOV) reached an all-time high of 5.3 per cent and the business delivered an absolute Adjusted Ebitda of over Rs 500 crore for the quarter (vs Rs 451 crore in Q1FY26)," it had said in an October shareholder letter. 

In the case of quick commerce, NOV growth accelerated to 137 per cent YoY, its highest in the last ten quarters. Network expansion continued with 272 net new stores added taking the total store count to 1,816 stores as at the end of the quarter, Eternal told shareholders.