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Eternal pumps Rs 450 crore into Blinkit as quick commerce race heats up
Fresh funds fuel Blinkit’s expansion as rivals Zepto and Instamart scale up
MUMBAI: Eternal has infused Rs 450 crore, into its quick commerce subsidiary Blinkit, marking its first capital injection into the company in 2026. The funding comes as competition in India’s fast-growing quick commerce market continues to intensify.
According to media reports, the capital infusion was approved by the board through a rights issue, with 2,799 equity shares allotted at an issue price of Rs 16,07,161 per share. The funds are expected to support Blinkit’s expansion, operational expenses and working capital needs as it scales operations across more cities.
The latest investment follows significant funding support from Eternal in 2025. The company invested Rs 500 crore in January, Rs 1,500 crore in February and Rs 600 crore in November, taking the total infusion last year to Rs 2,600 crore. The continued funding highlights Eternal’s focus on strengthening its quick commerce business.
Blinkit’s operations have grown rapidly alongside these investments. In the December quarter of FY25, the company reported revenue of Rs 1,399 crore, up from Rs 644 crore in the same period a year earlier. Gross order value also rose to Rs 7,798 crore during the quarter, reflecting strong demand for rapid delivery services.
However, profitability remains under pressure as the company continues to expand. Blinkit reported an adjusted ebitda loss of Rs 103 crore in the quarter, compared with a loss of Rs 8 crore in the previous quarter.
The funding comes at a time when competition in the quick commerce segment is increasing. Rival startup Zepto raised $450 million in October last year, while Swiggy raised around Rs 10,000 crore in December to strengthen investments in its quick commerce arm Instamart.
Earlier this year, Blinkit CEO Albinder Dhindsa was elevated to group CEO of Eternal, succeeding Deepinder Goyal, reflecting the growing strategic importance of the quick commerce business within the company.
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Adobe CEO Shantanu Narayen to step down after 18 years in role
Board begins CEO search as Narayen prepares to move to chair role
SAN JOSE: After nearly two decades at the helm, Adobe’s long-serving chief executive Shantanu Narayen is preparing to pass the baton.
The company announced that Narayen will transition from his role as chief executive officer once a successor is appointed, ending an 18-year run that reshaped Adobe from a boxed software seller into a global cloud and AI powerhouse. He will remain chair of the board following the leadership transition.
Adobe’s board has formed a special committee to oversee the succession process, led by lead independent director Frank Calderoni. The committee will evaluate both internal and external candidates.
“Shantanu’s leadership has been instrumental in Adobe’s transformation and in positioning the company for the AI-driven era,” Calderoni said in a statement. “As we begin the next phase of succession planning, our focus is on identifying the right leader for the company’s next chapter while ensuring a smooth transition.”
In a note to employees, Narayen described the moment not as a farewell but as a pause for reflection after a long journey with the company.
“I love Adobe and the privilege of leading it has been the greatest honour of my career,” he wrote, adding that he will continue to work closely with the board over the coming months to ensure a seamless leadership change.
Tributes from the technology industry quickly followed the announcement. Microsoft chairman and chief executive officer Satya Nadella congratulated Narayen on what he described as a “legendary run” at Adobe.
“Congrats Shantanu, on a legendary run at Adobe! You’ve built one of the most important software companies in the world, and expanded what’s possible for creators, entrepreneurs, and brands everywhere,” Nadella wrote on LinkedIn.
“What has always stood out to me is the empathy you’ve brought to the creative process and the example you’ve set as a leader. Grateful for your friendship, mentorship, and for all you’ve done for Adobe and for our industry.”
Narayen’s career at Adobe spans nearly three decades. He joined the company in 1998 as vice president and rose steadily through the ranks before becoming chief executive officer in December 2007.
During that time, he orchestrated one of the most significant reinventions in the software industry. In 2013, Adobe made the bold decision to abandon traditional boxed software sales and move its flagship creative tools such as Photoshop to a subscription-based Creative Cloud model. The shift initially rattled investors but ultimately transformed Adobe into a predictable recurring revenue business and a case study in digital reinvention.
Narayen also pushed Adobe beyond creative tools into the world of marketing technology and data-driven customer experience, spearheading acquisitions such as Omniture and Marketo. Those moves helped build Adobe’s digital experience division and broaden its reach far beyond designers and photographers.
The numbers tell the story of that transformation. When Narayen took over in 2007, Adobe generated roughly $3 billion in annual revenue. Today the company reports more than $25 billion. Over the same period, its workforce expanded from around 3,000 employees to more than 30,000.
In recent years, Narayen has steered Adobe into the generative AI era with the launch of Adobe Firefly, aiming to keep the company ahead in a rapidly evolving creative technology landscape.
Born in Hyderabad in 1963, Narayen studied electronics and communication engineering at Osmania University before moving to the United States for a master’s degree in computer science from Bowling Green State University. He later earned an MBA from the Haas School of Business at the University of California, Berkeley.
Widely regarded as one of Silicon Valley’s most steady and effective leaders, Narayen has earned multiple honours during his career, including India’s Padma Shri in 2019.
For Adobe, the upcoming leadership change marks the end of a defining chapter. For Narayen, however, the story is far from finished. As he told employees, the company’s next era of creativity, powered by AI and new digital workflows, is only just beginning.
