1 week Ago
Shares of Eternal (formerly Zomato) may be in focus on Friday, April 11, after the company informed exchanges about the liquidation of its step-down subsidiary, Zomato Netherlands B.V. The subsidiary, based in the Netherlands, has initiated the process of winding up operations with effect from April 9, 2025.
“Pursuant to Regulation 30 of the Listing Regulations, we wish to submit that Zomato Netherlands B.V. (“Zomato Netherlands”), step down subsidiary of Eternal Limited (Formerly known as Zomato Limited) (“the Company”) situated in Netherlands has initiated the process of liquidation w.
e.f. April 9, 2025,” the company said in an exchange filing.
In its disclosure, the company clarified that Zomato Netherlands does not have any active business operations and is not a material subsidiary. As such, its dissolution will not impact the turnover or revenue of the company.Eternal also highlighted that Zomato Netherlands’ inactive status was previously mentioned in the company’s red herring prospectus and subsequent public filings in 2021.
The development is primarily procedural and aligns with the company’s focus on streamlining international entities that do not contribute materially to the business.Also read: Is D-Street in the 8-year cycle of modest returns?Eternal share price historyOver the past year, shares of Eternal have gained 9.19%.
However, on a year-to-date (YTD) basis, the stock has declined by 23.51%. The six-month performance shows a deeper cut of 24.
38%, while the three-month period reflects a drop of 13.74%. In the last one month alone, the stock has slipped 2.
44%, indicating continued pressure in the short term despite the positive one-year return.Eternal shares closed 1.7% lower at Rs 211.
50 on the BSE on Wednesday.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times).
