The share prices of Eternal, the parent company of Zomato and BlinkIt, dropped to a low of 2.6% on Tuesday, touching Rs. 275.55 on the BSE. This was the lowest price that the company's shares touched in more than five months. It happened after reports of Blinkit’s CFO Vipin Kapooria, decision to quit the company surfaced, The Economic Times reported. Eternal's shares closed at Rs. 276.60, recording a 2.21% slide.
Vipin Kapooria's resignation
BlinkIt CFO Vipin Kapooria's quit the quick commerce giant a little over a year after he joined. He joined the company in September 2024. It is still not known as to who will replace him.
Kapooria worked at e-commerce giant Flipkart for seven years before joining BlinkIt. He was vice president of business finance at Flipkart. It is being known that Kapooria will be returning to Flipkart. The e-commerce firm is scheduled to launch its IPO in 2026.
Also Read | Sensex, Nifty 50 close marginally lower; Jindal Steel, Adani Power among top gainers
Kapooria's stint at BlinkIt
Vipin Kapooria was hired as the CFO of BlinkIt after a long time. The quick commerce company had Amit Sachdeva as a full-time designated CFO before Kapooria. Sachdeva served as CFO and head of finance from 2019 to 2022, after which he resigned. Kapooria assumed the position in 2024.
His appointment followed just months after Zomato, now rebranded as Eternal, named Blinkit its most critical business vertical, and came weeks after the company raised Rs. 8,500 crore through a qualified institutional placement. During Kapooria's tenure, Zomato also completed a much larger Rs 28,500 crore QIP, ET reported.
Also Read | Gold becomes cheaper, price drops by Rs 3,350 in a single day
Resignation at crucial time
Vipin Kapooria's resignation comes at a time when the quick-commerce industry is becoming more and more competitive. The rival firms of BlinkIt are aggressively increasing their footprint and are preparing for public listings.
Aadit Palicha-led Zepto, has already filed draft papers with SEBI for an IPO. The quick commerce company is expected to go public between July to September of 2026. The listing would make the company the youngest venture capital-backed company to get listed on the market. With Zepto's listing, the triumvirate of quick commerce companies - BlinkIt, Swiggy Instamart, and itself - would be on the market for public offering.
{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
