Goldman Sachs Makes Strategic Bet on HAL & Zomato with ₹281 Crore Block Deal

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March 28, 2025 | Business Desk

Global financial powerhouse Goldman Sachs has made a bold move in the Indian equity market by acquiring shares of Hindustan Aeronautics Ltd (HAL) and online food delivery giant Zomato worth ₹281 crore via open market transactions on Friday, March 28.

As per data from the Bombay Stock Exchange (BSE), the investment was executed through Goldman Sachs’ Singapore-based affiliate, which purchased 3.85 lakh shares of the Bengaluru-headquartered state-owned aerospace and defense company HAL. Simultaneously, the firm picked up a significant 60.07 lakh shares of Zomato, India’s leading food-tech platform.

The shares were acquired in a price band of ₹199.5 to ₹4,176.25 per share, bringing the total deal value to ₹280.96 crore. Interestingly, this acquisition mirrors a simultaneous exit by Hong Kong-based asset management firm Kadensa Capital. Through its arm, Kadensa Master Fund, the firm offloaded the exact number of HAL and Zomato shares at the same price levels.

Goldman Sachs: Market Reaction & Strategic Implications

Despite the high-value transactions, the stock market reacted with mixed sentiments. HAL’s stock closed at ₹4,176 apiece on the BSE, registering a slight uptick, while Zomato saw a minor decline of 2.07%, settling at ₹201.50 per share.

Goldman Sachs’ strategic investment signals confidence in India’s growing defense sector and the resilience of the digital economy. HAL, a crucial player in India’s aerospace sector, has been seeing strong order inflows, while Zomato continues to dominate the food-tech space with expanding profitability and market penetration.

This move by Goldman Sachs highlights its long-term optimism in these key sectors, making it a transaction to watch closely in the coming months.