BNP Paribas Makes Strategic Moves in Indian Markets with Bulk Deals in Eternal and Nykaa Worth Over INR 2,000 Cr
French banking giant BNP Paribas has made significant waves in the Indian stock market with a series of high-value bulk deals, showcasing its strategic interest in the country’s fast-growing consumer and tech-driven sectors. As per data from the National Stock Exchange (NSE), BNP Paribas Financial Markets has acquired and offloaded shares in foodtech company Eternal and beauty ecommerce platform Nykaa, amounting to a total transaction value of over INR 2,000 crore.
Read Also :- Nykaa Q4 FY25 Results: Net Profit Soars 110% YoY, Revenue Up 24% Despite QoQ Dip
BNP Paribas Acquires 6.24 Lakh Shares in Eternal
BNP Paribas acquired a substantial 6,24,85,371 shares in Eternal at a price of INR 238.25 per share, slightly below the stock’s last traded price of INR 238.75 on the BSE. This bulk deal is valued at INR 1,488.71 crore, reflecting strong investor confidence in the future of India’s foodtech and quick commerce industry.
Eternal, a rising player in the foodtech space, has been gaining attention for its rapid expansion and customer-centric delivery model. BNP Paribas’s investment at such scale suggests long-term belief in Eternal’s growth potential and profitability, even as competition intensifies in the sector.
Partial Exit from Eternal and Major Sell-Off in Nykaa
While BNP Paribas picked up a significant stake in Eternal, it also offloaded 1.88 lakh shares of the same company in a separate bulk deal valued at INR 4.35 crore. This simultaneous buy-sell strategy could be aimed at portfolio balancing or intra-day profit booking, common in large institutional trades.
More notably, BNP Paribas made a major exit from FSN E-Commerce Ventures Ltd, which operates the popular Nykaa brand. The firm sold 2,48,31,803 shares at INR 202.81 per share, bringing the total value of this deal to INR 503.61 crore. This sell-off was executed at a 0.2% discount to Nykaa’s previous close of INR 203.25, signaling a well-timed, high-volume transaction.
However, BNP Paribas didn’t completely exit Nykaa. It acquired 1,01,548 shares at INR 202.08 per share, worth INR 2.05 crore, indicating selective re-entry or continued interest in the stock at adjusted levels.
Market Implications and Strategic Insights
These bulk deals highlight BNP Paribas’s active portfolio management strategy in India, focusing on high-growth consumer-driven sectors like foodtech and ecommerce. The net investment across Eternal and Nykaa exceeds INR 2,000 crore, underlining the significance of the Indian market in the bank’s global investment portfolio.
For Eternal, the infusion of capital from a global financial powerhouse like BNP Paribas could enhance market credibility and fuel further expansion. Meanwhile, the partial exit from Nykaa suggests a cautious approach in response to market conditions or internal reassessment of valuations.
Conclusion
BNP Paribas’s bulk deals in Eternal and Nykaa reflect both strategic confidence and tactical agility in navigating India’s dynamic equity markets. With India’s digital consumer ecosystem continuing to grow, such large-scale institutional participation signals a robust outlook for the country’s startup and ecommerce landscape.
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