In a sweeping portfolio realignment, BNP Paribas Financial Markets has offloaded stakes worth ₹3,416 crore across a clutch of high-growth Indian companies including Zomato parent Eternal Ltd., Swiggy Ltd., Waaree Energies Ltd., Vishal Mega Mart Ltd., and Hitachi Energy India. The bulk deals, executed on August 26, 2025, reflect the French financial giant’s evolving investment strategy in India’s consumer, technology, retail, and clean energy sectors.
According to bulk deal data from the National Stock Exchange (NSE), the transactions involved both sell-side exits and selective buy-side entries, indicating a nuanced approach to capital reallocation. The largest trade was BNP’s acquisition of a 1.05% stake in Eternal Ltd. for ₹3,220 crore, even as it sold a smaller portion worth ₹51.1 lakh in the same session.
🧭 Timeline of BNP Paribas’ Block Deal Activity
| Date | Transaction Type | Company Involved | Value (₹ crore) | Strategic Outcome |
|---|---|---|---|---|
| August 26, 2025 | Buy | Eternal Ltd. (Zomato) | 3,220 | Fresh stake acquired |
| August 26, 2025 | Sell | Eternal Ltd. | 0.51 | Minor stake trimmed |
| August 26, 2025 | Sell | Swiggy Ltd. | 1,158 | Major divestment |
| August 26, 2025 | Buy | Swiggy Ltd. | 18.5 | Small stake added |
| August 26, 2025 | Sell | Waaree Energies Ltd. | 583 | Clean energy exposure reduced |
| August 26, 2025 | Sell | Vishal Mega Mart Ltd. | 845 | Retail sector stake trimmed |
| August 26, 2025 | Sell | Hitachi Energy India | 829 | Infra and power sector exit |
The flurry of trades underscores BNP Paribas’ tactical use of block deals to rebalance its exposure across sectors and companies.
📊 Company-Wise Breakdown of BNP Paribas’ Stake Movement
| Company Name | Shares Sold (Units) | Avg. Price (₹) | Value (₹ crore) | Shares Bought (Units) | Avg. Buy Price (₹) | Buy Value (₹ crore) |
|---|---|---|---|---|---|---|
| Eternal Ltd. (Zomato) | 16,083 | 317.94 | 0.51 | 10.12 crore | 318.10 | 3,220 |
| Swiggy Ltd. | 2.69 crore | 430.38 | 1,158 | 4.35 lakh | 426.68 | 18.5 |
| Waaree Energies Ltd. | 17.83 lakh | 3,266.21 | 583 | — | — | — |
| Vishal Mega Mart Ltd. | 5.53 crore | 152.80 | 845 | — | — | — |
| Hitachi Energy India | 4.19 lakh | 19,794.72 | 829 | — | — | — |
The Eternal Ltd. transaction stands out as BNP Paribas’ largest India investment in recent quarters, signaling confidence in the food-tech and digital commerce space.
🔍 Sectoral Implications of BNP Paribas’ Portfolio Moves
BNP Paribas’ stake reshuffling offers insights into broader sectoral trends:
| Sector | Company Involved | BNP Action | Implication |
|---|---|---|---|
| Food Delivery | Swiggy Ltd. | Partial exit | Profit booking amid valuation peak |
| Digital Commerce | Eternal Ltd. (Zomato) | Fresh entry | Long-term bet on consumer tech |
| Clean Energy | Waaree Energies Ltd. | Exit | Reallocation from renewables |
| Retail | Vishal Mega Mart Ltd. | Exit | Cautious stance on discretionary spending |
| Power & Infra | Hitachi Energy India | Exit | Shift away from capital-intensive sectors |
The moves suggest a pivot toward scalable, asset-light businesses with strong consumer engagement and digital infrastructure.
📉 Market Reaction and Stock Performance
Following the bulk deals, several of the involved stocks witnessed heightened trading volumes and price volatility:
| Stock Name | Day High (₹) | Day Low (₹) | Closing Price (₹) | Volume Spike (%) | Market Sentiment |
|---|---|---|---|---|---|
| Zomato (Eternal Ltd.) | 322.50 | 316.10 | 319.80 | +42% | Bullish on fresh entry |
| Swiggy Ltd. | 435.20 | 428.00 | 430.10 | +38% | Mixed signals |
| Waaree Energies Ltd. | 3,280.00 | 3,240.00 | 3,266.50 | +25% | Bearish on exit |
| Vishal Mega Mart Ltd. | 155.00 | 150.50 | 152.80 | +31% | Neutral |
| Hitachi Energy India | 19,900.00 | 19,700.00 | 19,794.72 | +18% | Bearish on divestment |
Zomato’s parent Eternal Ltd. saw a surge in investor interest following BNP’s acquisition, while Waaree Energies and Hitachi Energy faced selling pressure.
🧠 Strategic Context Behind BNP Paribas’ Moves
BNP Paribas’ India strategy appears to be driven by:
- Portfolio Optimization: Balancing high-growth tech with stable consumer plays
- Profit Booking: Exiting mature positions at peak valuations
- Sector Rotation: Moving capital from infra and energy to digital and retail
- Liquidity Management: Leveraging block deals for efficient capital deployment
These moves align with global investor trends favoring digital-first, consumer-centric businesses in emerging markets.
🔥 Other Notable Block Deals: TPG’s Exit from Sai Life Sciences
In a parallel transaction, US private equity firm TPG made a complete exit from Sai Life Sciences Ltd. via a ₹2,675 crore bulk deal. TPG Asia VII SF Pte sold 3.07 crore shares (14.72%) at an average price of ₹871.01–₹871.86. Buyers included Societe Generale and Goldman Sachs (Singapore) Pte.
| Seller | Company | Shares Sold | Avg. Price (₹) | Value (₹ crore) |
|---|---|---|---|---|
| TPG Asia VII SF Pte | Sai Life Sciences Ltd. | 3.07 crore | 871.01–871.86 | 2,675 |
This exit underscores the growing use of block deals by global investors to rebalance portfolios in India’s high-growth sectors.
📌 Conclusion
BNP Paribas’ ₹3,416 crore stake reshuffle across Zomato, Swiggy, Waaree Energies, Vishal Mega Mart, and Hitachi Energy reflects a strategic recalibration of its India portfolio. With a mix of exits and fresh entries, the French financial giant is positioning itself for long-term growth in consumer tech, digital commerce, and scalable retail.
As block deals become a preferred tool for institutional investors to adjust exposure, India’s equity markets are witnessing deeper liquidity, sharper price discovery, and more dynamic capital flows. BNP’s moves are a testament to India’s evolving investment landscape—and a signal of confidence in its digital future.
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Disclaimer: This article is based on publicly available news reports and official statements as of August 27, 2025. It is intended for informational purposes only and does not constitute financial, legal, or investment advice.
