Eternal Funds Quick Commerce Expansion
Quick commerce platform Blinkit has raised ₹450 crore from its parent company Eternal through a rights issue as it expands its delivery infrastructure.
According to regulatory filings, Blinkit allotted 2,799 equity shares to Eternal at a price of ₹16.07 lakh per share.
The funding marks Eternal’s first investment in Blinkit in 2026.
Dark Store Network Expansion
The company plans to use the capital to expand its dark store network, which supports rapid deliveries of groceries and daily essentials.
Blinkit aims to increase its network to 3,000 stores by March 2027. As of the end of December, the company operated 2,027 dark stores across India.
Competitive Pressure Intensifies
India’s quick commerce market has attracted heavy investment from both startups and large technology companies.
Competitor Zepto raised $450 million last year and has filed confidential IPO documents with market regulator SEBI.
Meanwhile, Swiggy raised ₹10,000 crore in late 2025 to support its instant delivery service Instamart.
Major Tech Firms Enter the Market
Large e-commerce platforms such as Amazon, Flipkart, and Reliance Industries are also investing in rapid delivery models.
Their entry has intensified competition in the sector.
Eternal has previously described the competitive environment as unusually aggressive.
Blinkit Drives Group Growth
Blinkit has become a key growth engine for Eternal.
In terms of net order value, the quick commerce business has now surpassed the company’s food delivery segment.
The company also reported strong financial performance in the latest quarter.
Revenue Growth and Profitability
Blinkit’s revenue rose to ₹12,256 crore in the December quarter, compared with ₹1,399 crore a year earlier.
Gross profit increased to ₹3,539 crore, and the company reported adjusted EBITDA profitability for the quarter.
Leadership Changes
Earlier this year, Eternal founder Deepinder Goyal stepped down as CEO.
Blinkit founder Albinder Dhindsa became group CEO of Eternal, while continuing to lead Blinkit.
The leadership change reflects the increasing importance of quick commerce within the company’s strategy.
Source: ISN
