BofA Securities Europe SA, the investment banking arm of Bank of America, recently bought 82 lakh shares of Eternal, the parent firm of food delivery giant Zomato. The deal, valued at nearly Rs 267 crore, took place through an open market transaction on October 1, 2025. The shares were acquired from Goldman Sachs Bank Europe SE at Rs 325.5 per share.
Eternal’s Shares on the Rise
Eternal’s stock price closed at Rs 329.45 on the NSE following the transaction. This marks a rise of more than 1% and continues an upward trend since the company surpassed its earlier record high of Rs 305 in July 2025. The market capitalization of Eternal now stands at Rs 3,17,930 crore.
Background: Big Moves in Shareholding This Year
The Bank of America purchase follows several large moves in Eternal’s shares this year. In August, BNP Paribas acquired Eternal shares worth Rs 3,220 crore while simultaneously selling part of its Swiggy holdings. Around the same time, Antfin, an affiliate of Alibaba Group, sold shares worth Rs 4,097 crore — marking a major exit from Indian internet companies, following Paytm in the same week.
Eternal’s Financial Performance
For the first quarter of the current fiscal year, Eternal reported a sharp rise in revenue. Its operational revenue grew 70% to Rs 7,167 crore from Rs 4,206 crore a year ago. However, the company’s net profit fell significantly by 90%, declining to Rs 25 crore from Rs 253 crore during the same period last year. The drop in profit was partly due to rising costs at Blinkit, Eternal’s quick commerce arm.
Looking Ahead
Eternal also recently granted 64.13 lakh stock options to its employees worth Rs 211 crore, reflecting the company’s ongoing growth ambitions. Despite shrinking profits, the company’s sharp rise in revenue and share price signals investor confidence in its long-term potential.
In summary, Bank of America’s recent investment in Eternal shows a strong interest in one of India’s leading food and quick commerce platforms. The sharp revenue growth, coupled with stock market gains, underscores Eternal’s continuing importance in the Indian startup ecosystem.
