Eternal Invests INR 450 Cr in Blinkit Amid Rising Quick Commerce Competition

Foodtech company Eternal has invested INR 450 crore (around USD 50 million) in its quick commerce subsidiary Blinkit through a rights issue, marking its first capital infusion into the unit in 2026.

According to regulatory filings reviewed by Entrackr, Blinkit’s board approved the allotment of 2,799 equity shares to Eternal at an issue price of INR 16,07,161 per share. The allotment has raised INR 450 crore to support the company’s operations and expansion in the fast-growing quick commerce market.

The latest funding comes after a series of investments by Eternal into Blinkit in 2025. The parent company had invested INR 500 crore in January, followed by INR 1,500 crore in February and another INR 600 crore in November, taking the total investment in the subsidiary to INR 2,600 crore last year.

The fresh capital injection also comes at a time when competition in the quick commerce sector is intensifying. Rival platform Zepto raised USD 450 million in October last year in a funding round led by the US-based pension fund California Public Employees’ Retirement System. Meanwhile, the board of Swiggy approved raising INR 10,000 crore through public or private offerings to strengthen its quick commerce operations.

Earlier this year, Albinder Dhindsa took charge as the Group CEO of Eternal after Deepinder Goyal stepped down from the role. The leadership change came as the company continues to expand its quick commerce business.

Financially, Blinkit has remained one of the leading players in the segment. The company reported revenue of USD 12,256 crore in the third quarter of FY26 and posted an adjusted EBITDA of USD 4 crore during the same period.

In comparison, Swiggy Instamart reported a loss of INR 908 crore in the same quarter, with a gross order value of INR 7,938 crore. Zepto is also expected to be loss-making, although it has not disclosed financial numbers beyond FY25.

As competition grows, quick commerce companies are investing heavily in supply chains, dark store networks and faster delivery systems. Discounts have also emerged as a key growth driver for platforms including Blinkit, Swiggy Instamart and Zepto.

However, Sriharsha Majety recently said the company will not focus on attracting discount-seeking customers and will instead prioritise stronger product selection and a better understanding of user needs.

The sector is gradually shifting from aggressive expansion to a more sustainable growth strategy. While major players continue to work towards profitability, Blinkit appears closer to turning profitable after reporting a marginal adjusted EBITDA gain in the latest quarter.