Goldman Sachs Offloads Rs 355 Crore Eternal Shares in Block Deal

Financial services giant Goldman Sachs sold an additional 1.08 crore shares of foodtech company Eternal in a block deal valued at ₹355.3 crore yesterday.

According to NSE data, Goldman Sachs Bank Europe SE-ODI sold a 0.11% stake in Eternal at ₹329 per share on 03 October. BofA Securities Europe SA acquired the shares.

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This marks the third time in the past month that Goldman Sachs has offloaded a stake in Eternal. Earlier, it sold 82 lakh shares worth ₹266.9 crore, and in September, it sold 9.52 lakh shares to Morgan Stanley in a block deal for ₹31.6 crore.

The stake sale comes as Goldman Sachs seeks to book profits following a surge in Eternal shares, which hit an all-time high of ₹343.95 on September 22. The stock has gained 26% over the past three months and is up 18% year-to-date.

The rally is also supported by positive brokerages’ outlooks. Last month, Goldman Sachs reiterated a ‘Buy’ rating on Eternal, raising its price target to ₹360 from ₹340, highlighting growth potential in its quick commerce arm, Blinkit. 

In July, ICICI Securities noted Blinkit retained its lead over Swiggy Instamart in Q1 FY26. However, rising competition in quick commerce and saturation in food delivery continue to pressure Eternal’s profitability.

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