Zomato infuses Rs 500 Cr into Blinkit for expansion and growth
The latest infusion comes after Zomato raised Rs 8,500 crore through a Qualified Institutions Placement (QIP) in November 2024.
Foodtech firm has invested Rs 500 crore in its quick commerce arm , taking its total investment in the platform to Rs 2,800 crore since its acquisition in August 2022.
The latest infusion comes after Zomato raised Rs 8,500 crore through a Qualified Institutions Placement (QIP) in November 2024, aimed at strengthening its financial position for strategic expansions.
Blinkit's board has approved issuing 2,537 equity shares at Rs 19,70,181 each to raise Rs 500 crore, according to its regulatory filing with the Registrar of Companies.
Blinkit is scaling operations with a target of 2,000 micro-warehouses by December 2026. It recently launched Bistro, a 10-minute food delivery platform, and a 10-minute Blinkit Ambulance Service in select Gurugram areas.
In Q2 FY25, Blinkit’s revenue surged 129% year-on-year to Rs 1,156 crore, with its EBITDA loss narrowing to Rs 8 crore from Rs 125 crore in the same period last year.
Meanwhile, Zomato reported a 68.5% quarter-on-quarter growth in operating revenue, reaching Rs 4,799 crore, alongside a 4.8X increase in net profit to Rs 176 crore.
This marks Zomato's second capital infusion in Blinkit within seven months, following a Rs 300 crore investment in June 2024.
Prior to its full acquisition, Zomato owned a 9% stake in Blinkit, which became a unicorn in 2021 after raising $120 million.
Edited by Jyoti Narayan