Blinkit gets Rs 500 crore Zomato ‘boost’

Gurgaon-based food delivery giant Zomato has further invested Rs 500 crore in its quick-commerce subsidiary, Blinkit, according to a recent regulatory filing. This brings Zomato’s total investment in Blinkit to Rs 2,800 crore since acquiring the company in an all-stock deal worth Rs 4,477 crore in August 2022.

The investment follows Zomato’s recent Rs 8,500 crore capital raise through a qualified institutional placement (QIP), which the company stated would be used to strengthen its balance sheet amidst intensifying competition in the quick-commerce sector.