01 May 2025
Eternal Ltd, formerly known as Zomato, is preparing to overhaul Blinkit's operating model by taking direct ownership of inventory – a move now feasible after receiving board approval to be classified as an Indian-owned and controlled company (IOCC), the company indicated in a letter to shareholders.
The company’s board recently cleared its proposal to cap total foreign shareholding at 49.5 percent on a fully diluted basis, clearing the way for Eternal to comply with foreign direct investment (FDI) norms required for owning inventory in sectors like quick commerce.
This allows Blinkit to move from a pure marketplace model to one with tighter control over supply chains, product selection, and margins.
“As an IOCC, we now have the option to also own inventory in the quick commerce business,” Eternal CFO Akshant Goyal said in the letter. “We believe that is important, and is another concrete step towards making our business more resilient in the long term.”
Eternal Ltd, formerly known as Zomato, is preparing to overhaul Blinkit's operating model by taking direct ownership of inventory – a move now feasible after receiving board approval to be classified as an Indian-owned and controlled company (IOCC), the company indicated in a letter to shareholders.
The company’s board recently cleared its proposal to cap total foreign shareholding at 49.5 percent on a fully diluted basis, clearing the way for Eternal to comply with foreign direct investment (FDI) norms required for owning inventory in sectors like quick commerce.
This allows Blinkit to move from a pure marketplace model to one with tighter control over supply chains, product selection, and margins.
“As an IOCC, we now have the option to also own inventory in the quick commerce business,” Eternal CFO Akshant Goyal said in the letter. “We believe that is important, and is another concrete step towards making our business more resilient in the long term.”
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