Antfin exits Eternal with ₹5,370 crore stake sale at ₹285 floor price
Antfin Singapore Holding to exit Eternal (formerly Zomato) with Rs 5,370 crore block deal at Rs 285 per share, days after selling entire Paytm stake for Rs 3,800 crore
 "Antfin exits Eternal with ₹5,370 crore stake sale at ₹285 floor price")
Antfin Singapore Holding plans to offload its entire 1.9 per cent stake in Eternal (formerly Zomato) via block deals on Thursday. The Chinese investor will sell 188.4 million shares at a floor price of Rs 285, a discount of almost 5 per cent to the last closing price.
Shares of Eternal ended at Rs 299, down 1 per cent on Wednesday. At the base price, Antfin, an Alibaba Group entity, will raise Rs 5,370 crore ($612 million). ALSO READ: Eternal shares clock all-time high after Q1 results; brokerages up target
The share sale comes days after Antfin’s exit from One 97 Communications, which runs the payments firm Paytm. On Tuesday, it sold its entire 5.84 per cent stake for around Rs 3,800 crore.
Shares of Eternal have gained 8.5 per cent so far this year.
NCDEX gets Sebi nod for equity foray
National Commodity and Derivatives Exchange (NCDEX) has received in-principle approval to foray into the equity cash and derivatives segment from the market regulator Securities and Exchange Board of India (Sebi).
In a disclosure dated July 30, the exchange said that Sebi has granted the approval through a letter dated July 29 and the final approval for launch is subject to fulfilment of conditions stipulated by the regulator. As per experts, this is part of the NCDEX’s plan for strategic business diversification since the continued suspension of high volume commodities for the last three years.