Goldman Sachs Offloads ₹266 Cr Worth of Zomato Parent Eternal Shares; Nets Over ₹900 Cr from Block Deals in a Month

Global financial services firm Goldman Sachs has offloaded yet another chunk of its holdings in Eternal Ltd, the parent company of Zomato, through a large block deal worth ₹266.1 crore. The transaction marks the fourth major stake sale by the investor in just one month, signaling a continued trimming of its exposure to the company.

BofA Securities Buys Entire Stake Sold in Latest Block Deal

According to NSE data, Goldman Sachs Bank Europe SE-ODI sold approximately 8.1 crore shares of Eternal at ₹328.45 per share, representing a 2% discount from the previous closing price of ₹335.05.

All the shares were reportedly acquired by BofA Securities Europe SA, indicating continued institutional interest in Eternal despite the selling spree.

Four Block Deals Net Goldman Sachs Over ₹900 Crore

This latest transaction follows a series of similar offloads by Goldman Sachs in recent weeks.

On October 1, it sold 8.2 crore shares worth ₹266.9 crore to Morgan Stanley.

On October 4, another ₹355.3 crore worth of shares went to BofA Securities.

In late September, it offloaded ₹36.1 crore worth of shares, also to Morgan Stanley.

In total, Goldman Sachs has generated over ₹924 crore from its Eternal stake sales in the last month alone. Despite the large volumes, data from BSE and NSE shows that the investment firm did not hold more than 1% stake in the company as of June 2025.

Goldman Sachs Remains Bullish on Eternal Despite Sell-Off

Interestingly, while Goldman Sachs has been reducing its stake, its brokerage division remains positive on Eternal’s future outlook.

In a research note issued on September 18, the brokerage reaffirmed its ‘Buy’ rating on the stock and raised its price target to ₹360 from the previous ₹340, citing the strong growth prospects of its quick commerce arm Blinkit.

The optimism around Blinkit has fueled investor enthusiasm, with Eternal’s stock touching an all-time high of ₹343.95 on September 22. On a year-to-date basis, the company’s shares have gained over 21%, reflecting sustained market confidence.

Financial Performance: Profit Declines, Revenue Surges

Despite the stock’s strong performance, Eternal’s Q1 FY26 earnings painted a mixed picture.

The company reported a sharp 90% drop in consolidated net profit to ₹25 crore, compared to ₹253 crore in the same quarter last year. However, its operating revenue surged 70% year-on-year, reaching ₹7,167 crore, driven largely by strong order volumes from Blinkit and Zomato’s core food delivery business.

While Goldman Sachs’ exits may hint at profit booking, interest from major global institutions like BofA and Morgan Stanley suggests continued confidence in Eternal’s long-term growth story.

With the festive season approaching and Blinkit’s rapid expansion, analysts expect further revenue acceleration in the coming quarters, though profitability may remain under pressure in the short term.

FAQs

1. What is the latest Goldman Sachs block deal involving Eternal?

Goldman Sachs sold around 8.1 crore shares of Eternal worth ₹266.1 crore at ₹328.45 apiece to BofA Securities Europe SA.

2. How much has Goldman Sachs earned from its Eternal share sales?

In the past month, Goldman Sachs has netted approximately ₹924 crore through four block deals involving Eternal shares.

3. Why did Goldman Sachs reduce its stake in Eternal?

While the company hasn’t disclosed reasons, such stake sales are often part of portfolio rebalancing or profit-booking strategies following a stock rally.

4. What is Goldman Sachs’ current view on Eternal?

Despite the stake reduction, Goldman Sachs’ brokerage arm maintains a ‘Buy’ rating on Eternal with a target price of ₹360, highlighting Blinkit’s strong growth.

5. How has Eternal’s stock performed recently?

Eternal shares have gained over 21% in 2025 so far, touching a record high of ₹343.95 in September, supported by investor optimism around its quick commerce business.