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BNP Paribas, a unit of the French banking group, has executed a series of large block deals worth more than Rs 3,000 crore across multiple companies
Block Deal
BNP Paribas Financial Markets, a unit of the French banking group, has executed a series of large block deals worth more than Rs 3,000 crore across multiple companies, including Swiggy, Vishal Mega Mart, Waaree Energies and Hitachi Energy India. The transactions were carried out on August 26, according to block deal data available on the National Stock Exchange (NSE).
In one of the largest trades, BNP Paribas sold 2.69 crore shares of food delivery platform Swiggy at an average price of Rs 430.38 apiece, amounting to around Rs 1,158 crore. Interestingly, it also acquired 4.35 lakh shares of the company at Rs 426.68 per share, worth Rs 18.5 crore, as part of the same trading session.
The French lender also trimmed its exposure to retail major Vishal Mega Mart, selling 5.53 crore shares at Rs 152.80 apiece, with the deal valued at Rs 845.13 crore. In the renewable energy space, BNP Paribas divested 17.83 lakh shares of Waaree Energies at Rs 3,266.21 each, raising about Rs 583 crore.
Separately, it sold 4.19 lakh shares of Hitachi Energy India at an average price of Rs 19,794.72, generating Rs 829 crore from the transaction.
Meanwhile, BNP Paribas was also active on the buy side. It picked up a significant stake in Zomato’s parent company, Eternal, by acquiring 10.12 crore shares at Rs 318.10 apiece, a deal valued at Rs 3,220 crore. On the other hand, it sold a small portion—just 16,083 shares of Eternal at Rs 317.94, worth Rs 51 lakh.
The flurry of trades highlights BNP Paribas’ strategy of reshuffling its portfolio across India’s consumer, technology, retail, and clean energy sectors, at a time when block deals are becoming an increasingly common tool for global investors to adjust their positions in high-growth Indian companies.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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