Eternal shares in focus as Antfin Singapore plans 1.9% stake sale via bulk deal
Eternal
(formerly
Zomato
) are expected to be in focus on Thursday as
Antfin Singapore
Holding plans to initiate a
bulk deal
to offload approximately 1.9% stake in the company in a cleanup trade.
The deal, valued at Rs 53.7 billion (approx. USD 612 million), will be executed via screen-based trading on the Indian stock exchanges.
Productivity Tool
Zero to Hero in Microsoft Excel: Complete Excel guide
By Metla Sudha Sekhar
View Program
Finance
Introduction to Technical Analysis & Candlestick Theory
By Dinesh Nagpal
View Program
Finance
Financial Literacy i e Lets Crack the Billionaire Code
By CA Rahul Gupta
View Program
Digital Marketing
Digital Marketing Masterclass by Neil Patel
By Neil Patel
View Program
Finance
Technical Analysis Demystified- A Complete Guide to Trading
By Kunal Patel
View Program
Productivity Tool
Excel Essentials to Expert: Your Complete Guide
By Study at home
View Program
Artificial Intelligence
AI For Business Professionals Batch 2
By Ansh Mehra
View Program
According to the term sheet, the transaction will be carried out on the National Stock Exchange (NSE) and the BSE, and the offer size includes about 188.4 million shares, representing 1.9% of Eternal's total share outstanding (TSO).
The floor price for the bulk sale has been set at Rs 285 per share, which represents a discount of approximately 4.63% to the stock's last closing price of Rs 298.85 on NSE as of August 6.
The deal is being managed by
Morgan Stanley India
Company Private Ltd and BofA Securities India Ltd, who are acting as the placement agents for the transaction.
Live Events
This is a 100% secondary share sale, meaning that no new shares are being issued and all proceeds will go to the selling shareholder, Antfin Singapore Holding.
Order execution details
The order books are scheduled to close around 7:00 AM IST on August 7, although there is an option to close earlier. Investors are required to issue execution instructions to either or both of the placement agents.
If multiple orders are received from a single investor through both agents, the placement agents reserve the right to seek clarification and may choose to aggregate the orders. In the absence of such clarification, they may execute the orders at their discretion.
Trade and settlement timeline
Expected Trade Date:
August 7, 2025 (T)
Expected Settlement Date:
August 8, 2025 (T+1)
Also read:
Nazara Technologies board to consider bonus issue, stock split on Aug 12; stock jumps 2%
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
Indian refiners can do without Russian oil, but with trade-offs
Indian refiners, the world's biggest user of Russian oil, can operate without supplies from Moscow from a technical standpoint, but the shift would involve major economic and strategic trade-offs, analysts said. Russian crude supports high distillate yields - the share of crude converted into fuels like petrol, diesel, and jet fuel through distillation. Replacing Russian crude, which accounts for up to 38 per cent of India's refinery intake, with alternatives will shift yields, resulting in lower middle distillates (diesel and jet fuel) and higher residue outputs, according to global real-time data and analytics provider Kpler. US President Donald Trump last week announced an additional 25 per cent tariff on US imports from India -- raising the overall duty to 50 per cent -- as a penalty for the country's continued imports of Russian oil. Since the steep tariffs are likely to hit the USD 27 billion of non-exempt exports that India does to the US, there has been chatter around stopping or curtailing oil imports from Russia. "Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs," Kpler said in a report, 'US Tariffs on Indian Imports: Implications for Energy Markets & Trade Flows'. India turned to purchasing Russian oil sold at a discount after Western countries imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February 2022. Consequently, from a mere 1.7 per cent share in total oil imports in 2019-20 (FY20), Russia's share increased to 35.1 per cent in FY25, and it is now the biggest oil supplier to India. In terms of volume, India imported 88 million tonnes from Russia in FY25, out of the total shipment of 245 million tonnes. In July, India received 1.6 million barrels per day of crude from Russia, ahead of China's nearly 1 million bpd and Turkey's around 5,00,000 bpd. Kpler said deep discounts and strong compatibility with India's refining systems led to a surge in imports of Russian Ural crude oil. "Russian crude supports high distillate yields (diesel and jet fuel) and is ideally suited to India's advanced refining infrastructure. It has enabled both state-owned and private refiners to operate above nameplate capacity while maintaining strong margins. "A reversal of this will result in a mild yield shift (lower middle distillate yields, higher residue yields) and probably a small reduction in primary throughput rates, as margins will no longer command a sizeable premium against regional benchmarks, considering existing discounts on Russian oil," Kpler said. The Indian government has issued diplomatic but firm responses to the US tariffs, emphasising the importance of maintaining energy security. "Should Russian oil become inaccessible, India could face an additional USD 3-5 billion in annual import costs (based on a USD 5 per barrel premium on 1.8 million bpd). If global prices rise further (a scenario in which Russian crude exports are being curtailed, in the absence of sufficient buying interest from India), the financial burden could increase significantly," the report said. This may prompt the government to cap retail fuel prices, which could strain fiscal balances. A spike in the import bill could even lead to a reduction in overall crude purchases. India's limited storage capacity further constrains its ability to manage such disruptions. While Russian flows to India continue under a 'business-as-usual' stance, the escalating US rhetoric has reopened conversations about supply diversification, with some Indian refiners reportedly booking increased volumes of Middle Eastern crude. According to Kpler, replacing 1.8 million barrels per day (bpd) of Russian crude would require a multi-regional approach. The Middle East remains the most viable option operationally, grades such as WTI Midland from the US could contribute 2,00,000-4,00,000 bpd. These (US crude) are lighter and yield less diesel, a disadvantage for India's distillate-heavy demand. Long-haul freight and cost considerations will also restrict scalability, it said. West Africa and Latin America (LatAm) crudes offer moderate potential. "A balanced replacement strategy may involve 60-70 per cent of substitute volumes from the Middle East, with US and African/LatAm crudes serving as tactical fillers. Nevertheless, none match Russian barrels in cost, quality, or reliability (some of the Russia-to-India barrels have already been contracted under term agreements)," it noted. According to Kpler, Indian refiners can technically adapt to the loss of Russian barrels, but with significant economic consequences. "Replacing 1.7-2.0 million bpd of discounted, medium-sour crude would erode refining margins and misalign product yields. Lighter substitutes like WTI or West African grades produce more gasoline and naphtha, reducing diesel output and hurting both domestic and export economics." Even Middle Eastern grades, while closer in quality, are priced tightly to official selling prices (OSP), leaving limited arbitrage opportunities. "In addition to higher feedstock costs, Indian refiners would face elevated freight and credit charges," it said. "The transition is commercially painful, even if technically feasible."
Deccan Herald
26 minutes ago
- Deccan Herald
Mcap of 6 of top-10 valued firms erodes by Rs 1.36 lakh crore; Reliance hit hard
New Delhi: The combined market valuation of six of the top 10 valued firms eroded by Rs 1,36,151.24 crore last week, with Reliance Industries taking the biggest hit, following a bearish trend in losing streak for the sixth consecutive week, the BSE benchmark dropped 742.12 points or 0.92 per cent, and the NSE Nifty declined 202.05 points or 0.82 per the top 10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys and Hindustan Unilever faced erosion in their valuations while Tata Consultancy Services (TCS), State Bank of India, Life Insurance Corporation of India (LIC) and Bajaj Finance were the Bank hikes minimum balance requirement for new savings accounts by 5x to Rs 50, valuation of Reliance Industries tumbled Rs 34,710.8 crore to Rs 18,51,174.59 crore. HDFC Bank's market capitalisation (mcap) tanked Rs 29,722.04 crore to Rs 15,14,303.58 mcap of ICICI Bank fell by Rs 24,719.45 crore to Rs 10,25,495.69 crore, and that of Infosys dropped by Rs 19,504.31 crore to Rs 5,91,423.02 valuation of Bharti Airtel declined by Rs 15,053.55 crore to Rs 10,59,850.32 crore, and that of Hindustan Unilever by Rs 12,441.09 crore to Rs 5,87,021.88 the mcap of LIC jumped Rs 17,678.37 crore to Rs 5,77,187.67 crore. The valuation of TCS climbed Rs 11,360.8 crore to Rs 10,97,908.66 Bank of India added Rs 9,784.46 crore, taking its valuation to Rs 7,42,649.34 crore, and that of Bajaj Finance went up by Rs 186.43 crore to Rs 5,45,148.52 Industries remained the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, LIC and Bajaj Finance.
Hans India
26 minutes ago
- Hans India
Rs 2,250-cr export promotion mission from Centre soon
The central government is expected to soon announce support measures under the proposed Rs 2,250 crore export promotion mission to help insulate industry from global trade uncertainties arising from Trump tariffs, an official said. 'We are in dialogue with exporters to see how we can support them best in different ways, like ease of doing business. We are looking at how to give a boost to domestic consumption. We are looking at new supply chains, which we can capture, new markets, and new products,' the official said. The mission may include components, such as easy credit schemes for MSME and e-commerce exporters, facilitation of overseas warehousing, and global branding initiatives to tap emerging export opportunities. The government on February 1 announced the setting up of the mission with an outlay of Rs 2,250 crore. The Directorate General of Foreign Trade (DGFT) has already made a presentation on the mission to the representatives of export promotion councils and other key stakeholders on April 30.
