Zomato has invested an additional Rs 1,500 crore in Blinkit, according to regulatory filings with the Registrar of Companies (RoC). This comes a month after it infused another Rs 500 in its quick commerce arm. The infusion comes at a time when Blinkit is aiming to maintain its market leadership by going aggressive on opening dark stores.
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It has announced its plan to open 2,000 dark stores by the end of 2026. Moreover, it has also included SKUs like TVs, Laptops and printers to improve the average order value. With the latest infusion, Zomato has put in Rs 4,300 crore in Blinkit since it acquired the online grocery delivery firm in August 2022.
Zomato had, in November last year, had raised Rs 8,500 crore through a qualified institutional placement (QIP), mainly to improve its balance sheet and have cash for the quick commerce arm.
The latest infusion is likely to help Blinkit cover for rapid expansion amid rising competition. In Q2FY25, the company was close to achieving operational breakeven. However, in Q3FY25, its operational losses rose to Rs 103 crore, mainly due to rapid opening of new dark stores.
The company said it would continue to open more dark stores rapidly until it reaches the 2,000-mark. This would require more cash in the company’s balance sheet. Its rival Zepto is burning around Rs 350-400 crore per month to gain market share.
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Another rival, Swiggy Instamart, is also focussing on opening more stores and opening larger ones called megapods to accommodate more SKUs.
Recently, it has announced its plans to invest Rs 1,000 crore in its supply chain subsidiary Scootsy. This subsidiary operates dark stores for the Instamart. Zomato’s shares closed 3.32% in the red at Rs 222.60 apiece on BSE.
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