Goldman Sachs Sells Eternal Shares Via ₹169 Cr Block Deal
Goldman Sachs has sold its stake in Indian foodtech giant Eternal for approximately ₹169 crore in a significant block deal. Bank of America acquired the shares.
Investment bank Goldman Sachs has divested its holdings in Indian foodtech company Eternal through a block deal valued at ₹168.7 crore. The shares, amounting to 53.4 lakh units, were sold by Goldman Sachs Bank Europe SE at a price of ₹316 per share.
The block of shares was purchased by Bank of America's affiliate, BofA Securities Europe. This transaction marks the second major block deal for Eternal within the last two months, following a sale by BNP Paribas and Millennium Management in early September, which involved over 9.9 crore shares worth ₹3,264.8 crore.
The sale occurs as investors maintain a positive outlook on Eternal. The company's stock has seen a rise of nearly 10% in the past three months and is up 16.2% year-to-date, supported by its rapid commerce arm, Blinkit, which leads the instant delivery market.
Financially, Eternal reported a consolidated net profit of ₹92 crore in Q1 FY27, a significant increase from ₹25 crore in the prior year. Operating revenue surged 182% year-on-year to ₹20,211 crore during the same quarter.
Eternal's shares closed Thursday's trading session at ₹324.35 on the BSE, marking a 2.77% increase.