Zomato, a promising Food tech giant, has invested INR 500 crore which comes to about nearly USD 60 million in its quick commerce subsidiary, Blinkit. This brings the total investment in the quick commerce segment to Rs 2,800 crore since its acquisition.
Furthermore, at an issue price of Rs 19,70,181 each to raise Rs 500 crore, Blinkit has passed a resolution to issue 2,537 equity shares. This was showcased in its regulatory filing accessed from the Registrar of Companies.
This investment comes just two months after Zomato raised Rs 8,500 crore through a Qualified Institutions Placement (QIP). Also to note, enabling business expansion and strategic initiatives, particularly in the quick commerce segment through Blinkit, the primary objective of that fundraising was to strengthen Zomato's financial position.
With this, it marks Zomato's second capital infusion in Blinkit within a span of seven months. In June 2024, it invested INR 300 crore which is about USD 36 million into the Albinder Dhindsa-led company. To speak of the acquisition, Blinkit which was formerly known as Grofers, was acquired by the food delivery giant in an all-stock deal which was valued at Rs 4,477 crore or USD 568 million.
Zomato achieved a remarkable 68.5 percent quarter-on-quarter growth in operating revenue During the second quarter of the ongoing fiscal year. This helped it reach Rs 4,799 crore from Rs 2,848 crore in Q2 FY24. Also to add, the Gurugram-based company has also recorded a 4.8X increase in its net profit to Rs 176 crore if we look at the quarter ending September report.
From Rs 504 crore in Q2 FY24, Blinkit’s revenue from operations jumped 129% to Rs 1,156 crore In Q2 FY25. The segment's gross order value (GOV) growth was driven by an increase in order frequency and the addition of new stores, contributing significantly to the company’s overall revenue.
