Startup Originals Team
Goldman Sachs has made another major move in the Indian markets, offloading shares of Eternal Limited in a bulk deal valued at approximately ₹266.1 crore. This is part of a recent series of stake sales by the financial giant in the foodtech / quick commerce company.
Details of the Transaction:
- The block deal involved the sale of 8.1 crore shares of Eternal.
- The shares were sold at ₹328.45 per share, representing roughly a 2% discount to the last closing price of ₹335.05.
- BofA Securities Europe SA bought the entire block of shares.
Pattern of Recent Sell-offs:
- This marks the fourth such deal by Goldman Sachs in just a month targeting Eternal’s shares.
- Earlier, the firm sold 8.2 crore shares worth ₹266.9 crore to the same buyer.
- In another trade, it sold 9.52 lakh shares in September, netting ₹31.6 crore.
- Overall, Goldman Sachs has reportedly realized over ₹900 crore from these block deals in a short span.
Why the Sell-off? & Market Backdrop
- One likely reason is profit booking, given the sharp rise in Eternal’s share price in recent weeks.
- Eternal’s stock has surged by ~26% over the past three months, and is up ~18% year-to-date.
- Several brokerages, including Goldman Sachs itself, have maintained a “Buy” rating on the stock, citing growth potential (especially via its Blinkit quick commerce arm) and raised price targets.
Financials & Performance Pressure
- Despite growing revenue, Eternal’s profitability is under strain. In Q1 FY26, its consolidated net profit plunged over 90% to ₹25 crore, from ₹253 crore a year ago.
- But on the top line, the company recorded a strong 70% jump in operating revenue, rising from ₹4,206 crore to ₹7,167 crore.
