Home / Business and Economy / Goldman Sachs Sells Eternal Stake for ₹168.7 Cr
Goldman Sachs Sells Eternal Stake for ₹168.7 Cr
16 Oct
Summary
- Goldman Sachs sold 53.4 lakh Eternal shares for ₹168.7 Cr.
- Bank of America acquired the stake at a slight discount.
- Eternal's shares have risen significantly YTD.
Financial services firm Goldman Sachs has offloaded 53.4 lakh shares of foodtech company Eternal, securing ₹168.7 crore through a major block deal. The shares were sold by Goldman Sachs Bank Europe SE at ₹316 per share, representing a discount of over 2.6% from the previous closing price. Bank of America, via BofA Securities Europe, was the buyer in this substantial transaction.
This is the second significant block deal for Eternal in recent months, following a sale exceeding ₹3,264.8 crore in early September by BNP Paribas and Millennium Management. Despite increased competition, Eternal's stock has performed strongly, rising 16.2% year-to-date. This growth is attributed to its quick commerce division, Blinkit, which leads the instant delivery market.
Eternal reported impressive financial results for Q1 FY27, with a net profit of ₹92 crore, a 3.7X increase from the previous year. Operating revenue also saw substantial growth, surging 182% year-on-year to ₹20,211 crore. As of Thursday's trading close, Eternal's shares were valued at ₹324.35 on the BSE.
