Zomato-parent Eternal Ltd. on Monday announced that it will launch a new service where food will be prepared, sold and delivered to customers in a bid to rival Zepto Cafe.
The company will incorporate a wholly-owned subsidiary named Blinkit Foods Ltd. with a total paid-up capital of Rs 10 lakh.
"Blinkit Foods is proposed to be incorporated as a wholly owned subsidiary and would inter-alia engage in the business of providing food services (including innovation, preparation, sourcing, sale and delivery of food to customers)," the company said in a stock exchange filing.
(This is a developing story)
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