A major block deal could take place in the stock market on Monday, December 8. According to various media reports, a block deal is about to take place between Zomato and Eternal, the parent company of Blinkit.

This company may be in the midst of a major block deal, with shares worth ₹1,500 crore set to be sold. Learn the details.

Eternal Block Deal News: A major block deal could take place on the Indian stock market on Monday, December 8, the first trading day of the week. According to various media reports, a block deal is about to take place between Zomato and Blinkit's parent company, Eternal.

Under this agreement, an institutional investor can sell up to 0.5 percent of their stake in the company. The deal is expected to be worth around ₹1,500 crore. CNBC-TV18 reported this information, citing sources. Let's learn more about this deal...

Show Quick Read

Key points generated by AI, verified by newsroom

Estimates of large block deals

Due to this large block deal, the company's shares may be in focus today, Monday. The floor price for the block deal has been set at ₹289.5 per share, representing a 0.77 percent discount to the previous day's closing price. Eternal also completed two large block deals in November, involving the purchase and sale of approximately 9 million shares, valued at approximately ₹279.25 crore.

The company's condition in the stock market on Friday

Eternal's shares closed at ₹291.75 on the NSE on Friday, December 5, the last trading session of the week, down 1.35 per cent, or ₹4. The company's shares had opened the day at ₹295. During the trading day, the company's shares reached a high of ₹299.70. The day's low was ₹291.15.  

Eternal's Business Model

Eternal is a well-known Indian tech company. It operates food, grocery, and essential goods delivery services through Zomato and Blinkit. It also provides logistics and tech services.