In one of India’s most extraordinary venture capital success stories, Info Edge’s modest ₹86 crore investment in Eternal (formerly Zomato) has ballooned into a staggering ₹32,000 crore valuation, underscoring the immense power of patient, conviction-led investing.
Shares of Eternal, the food delivery and quick-commerce
behemoth that also owns Blinkit, have delivered a breathtaking
performance—surging more than 122 percent since their 2021 listing. This
meteoric rally has translated into outsized gains for early backer Info Edge,
the parent company of Naukri.com and one of India’s most astute startup
investors.
Info Edge first invested in the company between 2010 and
2013, long before food delivery became a mainstream digital habit. That early
vote of confidence has since turned into a textbook example of exponential
value creation. As of the September quarter of FY26, Info Edge held a 12.38
percent stake in Eternal, even after multiple rounds of dilution over the
years.
Reflecting on the landmark listing, Info Edge Founder
Sanjeev Bikhchandani described the moment as the ultimate endorsement of a
philosophy he has long championed—back visionary startups early and stay the
course.
“Invest smartly in start-ups and over a decade or so you
will strike gold,” Bikhchandani told Moneycontrol after the IPO.
“These start-ups go on to become giants. They create new
industries, redefine categories, generate employment, and deliver sustainable
growth. Ultimately, they create enduring value for shareholders. Zomato is a
shining example of this doctrine.”
Today, Eternal stands not just as a market success, but as a symbol of how foresight, patience, and belief in entrepreneurial innovation can yield transformational returns. For Info Edge, the journey from an ₹86 crore cheque to a ₹32,000 crore windfall is more than a financial triumph—it is a masterclass in long-term value creation in India’s startup ecosystem.
BY: NIROSH GUPTA
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