Listed foodtech major Eternal has infused ₹450 Cr into its quick commerce arm Blinkit via a rights issue amid intense competition in the quick commerce market.
According to regulatory filings, Blinkit’s board approved the allotment of 2,799 equity shares to Eternal at an issue price of ₹16.07 Lakh per share.
This is the first capital infusion by Eternal into Blinkit in 2026. The company pumped ₹2,600 Cr into the subsidiary in 2025 via multiple rounds of funding.
The fresh investment is expected to support Blinkit’s expansion of dark stores, working capital needs and other operational costs as it expands its quick commerce operations across cities.
The development was first reported by Entrackr.
The funding comes at a time when India’s quick commerce market continues to see high competition. Rivals such as Zepto and Swiggy Instamart are also investing heavily to grow their quick commerce business.
For instance, IPO-bound Zepto raised $450 Mn last year in a round led by pension fund California Public Employees’ Retirement System. Meanwhile, Swiggy raised around ₹10,000 Cr through a qualified institutional placement in December last year to expand its quick commerce arm Instamart.
In its Q3 FY26 shareholders’ letter, Eternal called the competition intensity in quick commerce “irrational”.
In its post-earnings call, Blinkit CEO Albinder Dhindsa said that the company was facing competition from startups, major ecommerce players, as well as JioMart. Notably, Amazon and Flipkart are also ramping up their investments in the quick commerce market.
While Blinkit continues to weigh on Eternal’s bottom line, the quick commerce vertical has been seeing exponential growth. In the December quarter, the company reported a revenue of ₹1,399 Cr, up 117% from ₹644 Cr the year-ago period. It posted an adjusted EBITDA loss of ₹103 Cr in the quarter as against a loss of ₹89 Cr in the same period last year.
Blinkit has also become increasingly important to Eternal’s overall strategy. Earlier this year, Dhindsa was elevated to the role of Eternal’s group CEO after Deepinder Goyal stepped down.
Shares of Eternal ended today’s trading session 1.14% at ₹221.25 on the BSE, amid the ongoing conflict in West Asia and its impact on global gas supply routes.
The post Eternal Injects ₹450 Cr Into Blinkit Amid Intense Quick Commerce Competition appeared first on Inc42 Media.
https://ift.tt/rEumTaI
0 Comments