Zomato Secures Shareholder Approval for Name Change to Eternal

Zomato has received shareholder approval to change its name to Eternal Ltd., as per the news. This includes necessary amendments to the Memorandum of Association (MoA) and Articles of Association (AoA). Over 99% of votes were in favour of the resolution, with only 0.25% against it.

As of today, March 10, 2:41 PM, Shares of Zomato Ltd. were trading at ₹212.60, down 1.95% for the day, declining 20.58% over the past six months, but still up 37.29% in the past year.

Business Structure Under Eternal Ltd.

The name change applies to the parent entity, while individual businesses will continue operating under their existing brands. The four businesses under Eternal Ltd. include:

• Zomato – Food delivery
• Blinkit – Quick-commerce
• District – Going-out services
• Hyperpure – B2B grocery for restaurants

The corporate website will now shift from zomato.com to eternal.com, and the stock ticker will change from ZOMATO to ETERNAL once the transition is finalized.

Financial Performance

For Q3 FY25, Zomato reported a 57% decline in net profit, falling to ₹59 crore from ₹138 crore in the same quarter last year. Revenue from operations, however, rose by 64% year-on-year, reaching ₹5,404 crore compared to ₹3,288 crore in Q3 FY24.

Background of the Name Change

The company had already been using the name Eternal internally following its acquisition of Blinkit in 2022. The quick-commerce platform was acquired in an all-stock deal worth $568 million. 

CEO Deepinder Goyal previously mentioned that the rebranding was considered once businesses beyond food delivery became a key part of the company’s future.

Conclusion

All in all, the company’s food delivery platform will continue operating under the Zomato brand, while the parent entity transitions to Eternal Ltd. The stock ticker change is pending implementation. Further updates on the transition are expected in the coming months.

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