Eternal Injects Rs 450 Crore into Blinkit through Rights Issue

Overview

Eternal, the parent company of quick commerce platform Blinkit, has infused Rs 450 crore into its subsidiary through a rights issue, continuing its financial backing for the rapid-delivery business.

Funding Details

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The funding was approved by Blinkit's board, which allotted 2,799 equity shares to Eternal at an issue price of Rs 16,07,161 per share. This fresh capital injection marks the first capital infusion into Blinkit in 2026 and follows a series of funding rounds last year as Eternal stepped up investments in the quick commerce arm to fuel expansion.

Previous Capital Infusions

In 2025, Eternal invested Rs 500 crore in January, Rs 1,500 crore in February, and Rs 600 crore in November, taking the total capital infused during the year to Rs 2,600 crore.

Expected Use of Funds

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The funding is expected to support Blinkit's expansion of dark stores, working capital requirements, and operational expenses as the company scales its quick commerce operations across more cities.

Market Context

The investment comes amid intensifying competition in India's quick commerce market, with rivals raising large sums to accelerate expansion. Zepto raised $450 million in October last year, while Swiggy raised about Rs 10,000 crore through a qualified institutional placement (QIP) in December last year.

Business Performance

Blinkit's business has continued to grow rapidly, with revenue increasing to Rs 1,399 crore in the December quarter (Q3FY25), up 117 percent year-on-year from Rs 644 crore a year earlier. However, profitability pressures persist, with an adjusted EBITDA loss of Rs 103 crore in Q3FY25.

Key Performance Indicators

• Revenue: Rs 1,399 crore (up 117 percent year-on-year)
• Gross Order Value (GOV): Rs 7,798 crore (up from Rs 3,542 crore in Q3FY24)
• Adjusted EBITDA loss: Rs 103 crore (up from Rs 89 crore in the same quarter last year)