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VCGuy

Believe me, it’s not... • 1m

Blinkit is going inventory-led from Sept 1. It’ll now own stock → buying directly from sellers instead of just storing it (Amazon also operates on a storage + commission model — doesn’t own inventory) Why now? ➡️ Because its parent, Eternal, became Indian-owned (IOCC) in April — making Blinkit eligible to legally hold inventory under India’s FDI rules What this unlocks ⤵️ → Better margins (improved unit economics, stronger negotiating power with suppliers by buying in bulk) → More control over availability, pricing & delivery → Simpler compliance for sellers (no more GST/FSSAI requirements for Blinkit warehouses) → Lean working capital model As Eternal CFO Akshant Goyal said: “If Blinkit owned 100% of inventory in FY25, it would’ve needed < ₹1,000 Cr in working capital — just 15 days’ worth, ~3–4% of GOV.” Zepto would likely follow.

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