Goldman Sachs Bank Europe SE – ODI has sold 1.08 crore shares in foodtech company Eternal, in a block deal valued at around ₹355.3 crore. The shares were sold at ₹329 apiece, representing about 0.11% of Eternal’s equity.
The buyer was BoFA Securities Europe SA, which acquired the shares in the secondary market. This transaction marks Goldman Sachs’ third recent stake sale in Eternal. Earlier this month, it sold 8.2 crore shares worth ₹266.9 crore, and prior to that, 9.52 lakh shares for ₹31.6 crore.
Goldman Sachs seems to be booking profits as Eternal’s stock has seen substantial gains. Over the past three months, the stock rallied by 26%, and year-to-date, it has gained 18%. The company’s share price recently peaked at ₹343.95 on September 22.
From a business perspective, the sale comes despite an impressive revenue performance in Q1 FY26. Eternal’s operating revenue rose 70% year-on-year to ₹7,167 crore, up from ₹4,206 crore in the same quarter a year ago. However, net profit plunged sharply—down 90%, from ₹253 crore to ₹25 crore.
The broader context: Goldman Sachs retains a “Buy” rating on Eternal, and recently raised its price target from ₹340 to ₹360, citing confidence in the growth of Eternal’s quick commerce arm, Blinkit.
Takeaways
- The repeated stake offloads by Goldman Sachs suggest systematic profit booking amid strong recent stock performance.
- Eternal’s sharp profit decline, despite revenue surge, underscores margin pressures and cost challenges in the foodtech sector.
- BoFA’s aggressive buying points to institutional confidence in Eternal’s long-term prospects, especially its Blinkit vertical.
- It’ll be key to monitor how the market responds and whether Goldman’s future stake exits continue.
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