Eternal Limited has filed with exchange copy of scrutinizer report and voting results.
ETERNAL · price
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Awaiting price reaction for this filing.
Eternal Limited (formerly Zomato Limited) has filed the scrutinizer's report and voting results of its postal ballot conducted via remote e-voting between April 20, 2025 and May 19, 2025. Shareholders approved a special resolution to permit a cap of up to 49.50% on aggregate foreign ownership in the company. The resolution was passed with overwhelming support — 6,95,87,00,955 votes (99.85%) in favour versus just 1,03,01,573 votes (0.15%) against, with 76.81% of outstanding shares participating in the voting. Of the 28,20,568 shareholders on the record date, 4,183 voted in favour and 354 voted against. Notably, neither the promoters nor the Employee Benefit Trust (holding 57.74 crore shares) participated in the voting.
This is a meaningful positive development for shareholders — lifting the foreign ownership ceiling to 49.50% removes a key restriction that had limited FII/FPI participation in the stock, which could improve liquidity, widen the investor base, and potentially support valuation. The near-unanimous approval also signals strong shareholder confidence in management's strategic direction.