Highlights
The investment banking segment of Bank of America, known as BoFA Securities Europe SA, has successfully acquired 82 lakh shares of Eternal in a significant transaction on Wednesday. These shares were purchased from Goldman Sachs Bank Europe SE at a price of Rs 325.5 per share, which brings the overall transaction value to approximately Rs 267 crore.
Recent Activities in the Market
In August of this year, BNP Paribas made headlines by acquiring shares of Eternal worth Rs 3,220 while simultaneously divesting shares of Swiggy valued at Rs 1,140. That same month, an associate of Alibaba Group, Antfin, sold shares worth Rs 4,097 crore ($482 million) from Eternal through a bulk transaction.
Ant Group’s Strategic Moves
This particular deal also represented Ant Group’s second exit from an Indian startup within the same week, following their withdrawal from Paytm.
Eternal’s Financial Performance
In the initial quarter of the current fiscal year, Eternal experienced a remarkable 70% growth in operational revenue, reaching Rs 7,167 crore compared to Rs 4,206 crore in Q1 FY25. Nonetheless, the company faced a significant profitability decline, with profits dropping by 90% to Rs 25 crore in Q1 FY26 from Rs 253 crore in the previous year’s first quarter.
Stock Market Performance
Eternal’s shares concluded trading at Rs 329.45 on the NSE, slightly higher than the bulk deal price of Rs 325.5, resulting in a total market cap of Rs 3,17,930 crore.
Goldman Sachs’ Recent Transactions
In a distinct development, Goldman Sachs divested shares in Blackbuck valued at Rs 295 crore last month, signifying ongoing adjustments in its India-focused investment portfolio.