Q-commerce arm of Zomato, Blinkit, awarded a Rs 44.7 lakh order to design, manufacture, supply, and install the storage racking systems at its Chennai, Rangareddy, and Raipur units to BSE-listed Alphalogic Industries. In a regulatory filing to the Bombay Stock Exchange on Friday, Alphalogic revealed the details of the contract.
Alphalogic will service three units across three states for Blink Commerce Pvt Ltd, commonly known by the brand “Blinkit”, according to the announcement—Chennai in Tamil Nadu, Rangareddy district in Telangana and Raipur in Chhattisgarh. This deal points to the vast spread of the company and its network of dark stores.
Blinkit parent and food delivery aggregator Zomato announced on Monday the approval of its Qualified Institutional Placement (QIP) at a floor price of Rs 265.91 a piece. Zomato plans to raise at least Rs 8,500 crore through the offering in a bid to strengthen its balance sheet, according to CEO Deepinder Goyal.
Q-commerce is a booming sector in India, with the market growing by at least 70 per cent in the last fiscal year, according to Redseer consultants. This is five times the growth in e-commerce. Q-commerce gross merchandise value (GMV) is expected to hit USD 6 billion in the current fiscal year, almost double that of the 3.3 billion reported last year.
With more GenZ and millennial consumers turning to on-demand shopping, Blinkit, Zepto, and Swiggy’s Instamart dominate Q-commerce. Tata also ventured into Q-commerce this October with BigBasket, and Walmart-owned Flipkart did it through its Flipkart Minutes.
In the last reported quarter ending September 2024, Zomato’s gross B2C order value jumped 55 per cent year-on-year to hit Rs 17,670 crore. In Q-commerce alone—that is, Blinkit— gross order value rose to a whopping Rs 6,132 crore from the last corresponding quarter of Rs 2,760 crore.
Earlier this month, rival Swiggy opened to an impressive debut at the National Stock Exchange, with shares soaring on day one. Since its listing on November 13, Swiggy shares rose to hit an all-time high of Rs 516.95 on Thursday.
