Eternal shares slide 3% to over 5-month low after Blinkit CFO quits

Shares of the food delivery and quick-commerce company Eternal slid as much as 2.6% on Tuesday to an intraday low of Rs 275.55 on the BSE, sinking to their lowest level in more than five months, following reports that Blinkit’s CFO, Vipin Kapooria, had decided to move on from the company.

Kapooria’s resignation comes a little over a year after he joined Blinkit in September 2024. Details on who will replace him remain unclear.

Before joining Blinkit, Kapooria spent more than seven years at e-commerce giant Flipkart, where he was vice president of business finance. He is expected to return to Flipkart as the company gears up for its planned initial public offering in 2026.

Blinkit had hired Kapooria as its CFO after a long gap, marking the first time the company had a full-time designated CFO since Amit Sachdeva, who served as CFO and head of finance between 2019 and 2022, left the firm. His appointment came just months after Zomato, now renamed Eternal, described Blinkit as its most important business division and weeks after the company raised Rs 8,500 crore through a qualified institutional placement.

Under Kapooria, Zomato completed a Rs 28,500 crore QIP.

Rising competition in quick commerce

Kapooria’s exit also comes as competition in the quick-commerce space heats up, with rivals accelerating expansion and preparing for public listings.Quick-commerce platform Zepto, led by Aadit Palicha, recently filed draft papers with the Securities and Exchange Board of India for an initial public offering, taking the confidential route. Zepto is expected to go public in the July-September quarter of 2026, which would make it the youngest new-age, venture capital-backed company to list.

Once Zepto’s IPO goes through, all three major players in the quick-commerce segment, Zepto, Blinkit and Swiggy Instamart, will be listed, marking a milestone for an industry that did not exist five to six years ago.

For Eternal, the sudden leadership change at Blinkit has added a fresh layer of uncertainty just as the battle for dominance in India’s fast-growing quick-commerce market enters a more competitive, and more scrutinised phase.

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