Antfin to offload entire Rs 5,370 crore stake in Eternal via bulk deal

Antfin Singapore Holding Pte. Ltd, an affiliate of Ant Group will sell its entire 1.95% stake—equivalent to 18.84 crore equity shares—in food delivery company Eternal via a bulk deal on Thursday. The floor price has been set at Rs 285 per share, valuing the deal at around Rs 5,370 crore ($612 million).

The floor price is at a 4.6% discount over today's closing price of Rs 300.05 on the NSE. Eternal shares today settled with declines of Rs 2.10 or 0.70% over the Tuesday closing price.

The placement agents to this issue are Morgan Stanley India Company Private Limited and BofA Securities India Limited

This marks Antfin’s second exit from an Indian company this week. On Tuesday, Ant Group affiliate Antfin (Netherlands) Holding B.V. divested its entire 5.84% stake in One 97 Communications, the parent company of Paytm.

Zomato and Blinkit’s parent company reported a 90% year-on-year (YoY) drop in consolidated net profit for Q1FY26, at Rs 25 crore compared to Rs 253 crore in the same quarter last year. The revenue from operations stood at Rs 7,167 crore, up 70% from Rs 4,206 crore a year ago.

The sharp decline in profit was on account of the continuing investments in quick commerce segment and going-out.

"On the profitability front, consolidated Adjusted EBITDA declined 42% YoY to Rs 172 crore in Q1FY26, largely on account of the continuing investments in quick commerce and going-out, which were partly offset by the improvement in food delivery Adjusted EBITDA margin (as a % of NOV) to 5.0% from 3.9% a year ago," said Akshant Goyal, CFO, CFO, Zomato.

The net order value (NOV) of Eternal's B2C businesses grew 55% YoY and 16% quarter-on-quarter to Rs 20,183 crore in Q1FY26.

The company also reported a 15% YoY jump in its Q1FY26 expenses to Rs 2,137 crore, primarily under heads such as 'Delivery and related charges' and 'Advertisement and sales promotion'. Expenses stood at Rs 1,936 crore in Q4FY25 and Rs 1,854 crore in Q1FY25.