India’s quick‑commerce market is wrestling with an awkward valuation spread: HSBC values Eternal’s Blinkit at about $10.5 billion, while Swiggy’s Instamart is given a price tag of just $2.7 billion, a difference that means the market assigns almost four dollars of equity to Blinkit for every dollar it assigns to Instamart.
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Blinkit And You'll Miss the 75% Valuation Gap
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India’s quick‑commerce market is wrestling with an awkward valuation spread: HSBC values Eternal’s Blinkit at about $10.5 billion, while Swiggy’s Instamart is given a price tag of just $2.7 billion, a difference that means the market assigns almost four dollars of equity to Blinkit for every dollar it assigns to Instamart.