Goldman Sachs has sold 53.4 lakh shares of Indian foodtech firm Eternal in a block deal valued at ₹168.7 crore, marking the second major secondary sale in the company within two months amid growing investor confidence.
- Goldman Sachs sells 53.4 lakh shares of Eternal for ₹168.7 Cr
- Eternal shares up 16.2% year-to-date supported by strong Q1 profits
- Blinkit quick commerce arm drives rapid revenue and profit growth
What happened
Goldman Sachs, through Goldman Sachs Bank Europe SE, sold 53.4 lakh shares of foodtech company Eternal in a ₹168.7 crore block deal at ₹316 per share. The sale price was about 2.6% below the last closing price on the NSE. The shares were purchased by Bank of America’s affiliate BofA Securities Europe. This secondary sale follows a larger block deal in September involving BNP Paribas and Millennium Management, who together sold over 9.9 crore shares of the company.
Eternal’s stock has seen increasing investor interest despite these large share disposals. The foodtech firm continues to perform well financially, showing significant growth in revenue and profit. These successive block deals reflect a dynamic secondary market activity as institutional investors adjust their stakes in Eternal while the stock remains in an upward trend.
Why it matters
The block sale by Goldman Sachs signals a partial exit or portfolio rebalancing by a major financial institution in one of India’s promising foodtech startups. Such movements impact market perceptions and liquidity for shares of firms operating in competitive segments like quick commerce. Eternal’s ability to draw interest from top global investors indicates confidence in its business model and growth prospects.
Eternal has managed to distinguish itself in a rapidly evolving sector, led by its Blinkit brand. Despite new entrants like Rapido’s Ownly, Flipkart, and Swish, Eternal has sustained healthy growth, achieving a consolidated net profit of ₹92 crore in Q1 FY27, up nearly 3.7 times from the prior year quarter. Its operating revenue surged by 182% year-on-year, underlining its scaling capabilities and market dominance.
What to watch next
Market participants will closely monitor how Eternal navigates intensifying competition in the quick commerce space and whether it can sustain its growth trajectory. Further block deals or strategic share sales by major investors could influence share price volatility and investor sentiment in the near term.
Additionally, Eternal’s continuing financial performance, especially profitability and revenue growth in subsequent quarters, will be critical to validate its valuation and competitive edge. The company’s management of innovation, customer acquisition, and operational efficiencies amid sector upheaval will be key factors shaping its market position going forward.