Financial service giant Goldman Sachs has sold 53.4 Lakh shares of foodtech giant Eternal in a major block deal worth ₹168.7 Cr.

According to NSE data, the investment bank, via its entity Goldman Sachs Bank Europe SE, sold the shares at ₹316 apiece to rake in the amount. The investor offloaded the stake at a discount of more than 2.6% to the stock’s last closing price on Thursday. 

The shares that flooded the market were lapped up by Bank of America, via its affiliate BofA Securities Europe, for ₹168.7 Cr.

This is the second block witnessed by Eternal in the past two months. In early September, French financial services giant BNP Paribas and US-based hedge fund Millennium Management together sold over 9.9 Cr shares of the listed foodtech giant for a sum of ₹3,264.8 Cr.

This latest block deal comes as investors continue to be bullish on Eternal. Shares of the foodtech giant have surged nearly 10% in the past three months, and are up 16.2% on a year-to-date (YTD) basis.

The uptick in Eternal’s shares has come on the back of strong financial performance by the startup despite intensifying competition in the quick commerce space and the entry of new players like Rapido’s Ownly, Flipkart and Swish. What has been powering the stock’s rise is Eternal’s quick commerce arm Blinkit, which continues to dominate the instant delivery market.

7X from ₹25 Cr in the year-ago quarter. Meanwhile, operating revenue surged 182% YoY and 17% QoQ to ₹20,211 Cr during the quarter under review.

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