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French banking firm BNP Paribas exits Swiggy stake, invests Rs 3,200 crore in Zomato
BNP Paribas offloaded Swiggy shares worth Rs 1,140 crore
BNP Paribas offloads Swiggy shares, buys Eternal Ltd shares worth Rs 3,200 cr
French financial services company BNP Paribas has exited a majority of its stake in Swiggy Ltd and purchased shares of Eternal Ltd, the operator of food delivery platform Zomato worth Rs 3,200 crore.
According to media reports, the French banking company offloaded Swiggy shares worth Rs 1,140 crore. In addition, Société Générale sold shares worth Rs 608 crore in the food and grocery delivery aggregator.
Notably, Alibaba Group affiliate Antfin Singapore Holding Pte also offloaded shares worth Rs 4,097 crore in Eternal through a bulk deal.
In its first-quarter results ended June 30, 2025, Swiggy’s net loss widened to Rs 1,197 crore compared to Rs 611 crore in the same period last fiscal. Revenue, however, surged 54% to Rs 4,961 crore.
Eternal also reported a loss in Q1, which dropped 90% year-on-year to Rs 25 crore from Rs 253 crore in the same period last year. Its revenue from operations rose 70.4% year-on-year to Rs 7,167 crore in Q1FY26, up from Rs 4,206 crore in the year-ago quarter.
Separately, Eternal has received three orders from the GST department for a tax demand of Rs 40 crore, including tax and penalties.
Both companies are vying to become the market leader in the food delivery and quick commerce market. Eternal’s Blinkit platform reported revenue of ₹2,400 crore for the quarter, while Swiggy Instamart also delivered a strong performance, with Gross Order Value (GOV) more than doubling (up 108% YoY).
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