Zomato rebrands as Eternal, sets foreign ownership cap

Eternal Limited, formerly Zomato Limited (BSE:ZOMATO), announced the outcome of its board meeting held on April 18, 2025. A key decision was the approval of a cap on total foreign ownership, which includes investments through primary and secondary markets, Foreign Direct Investment, Foreign Portfolio Investment and other indirect routes. This ceiling is set at 49.50% on a fully diluted basis and is subject to shareholder approval via a special resolution undertaken through a postal ballot. The board also approved a postal ballot notice for the shareholders to consider the foreign ownership cap. The company emphasized that this cap applies to foreign shareholding investments made by and/or on behalf of persons resident outside India, including foreign-owned or controlled Indian companies and investment vehicles, Foreign Portfolio Investors (FPIs), and non-resident Indians (NRIs).