SUMMARY
- Zomato invests ₹500 crore in Blinkit to boost quick commerce sector
- Blinkit issues 2,537 equity shares at ₹19.7 lakh each to raise funds
- It’s Q2 FY25 revenue grows 129% with increased stores and order frequency
Zomato, the food tech giant, has invested ₹500 crore (nearly $60 million) in Blinkit, its quick commerce subsidiary. Since the acquisition, Zomato has spent a total of ₹2,800 crore in the quick commerce sector.
In order to raise ₹500 crore, the board of Blinkit has decided to issue 2,537 equity shares at an issue price of ₹19,70,181 apiece, according to its regulatory filing obtained from the Registrar of Companies.
Blinkit’s capital infusion follows Zomato’s Qualified Institutions Placement (QIP) campaign, which raised ₹8,500 crore in just 2 months. Increasing Zomato’s financial standing to support corporate growth and strategic initiatives—especially in the fast commerce sector through Blinkit—was the main goal of that fundraising campaign.
Zomato saw a spectacular 68.5% quarter-over-quarter increase in operating revenue during the second quarter of the current fiscal year, rising from ₹2,848 crore in Q2 FY24 to ₹4,799 crore. During the September quarter, the Gurugram-based company’s net profit increased by 4.8 times to ₹176 crore.
The operational income of Blinkit increased by 129% to ₹1,156 crore in Q2 FY25 from ₹504 crore in Q2 FY24. The addition of additional stores and a rise in order frequency drove the segment’s gross order value (GOV) growth, which made a substantial contribution to the company‘s overall revenue.
