Eternal limited has informed the exchange about asset transfer agreement entered between the Company and Wasteland Entertainment Private Limited, wholly owned subsidiary.
ETERNAL · price
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Eternal Limited (formerly Zomato) has approved an asset transfer agreement with its wholly owned subsidiary Wasteland Entertainment Private Limited (WEPL). Under this agreement, the company will transfer the technology stack of its District platform along with identified employees to WEPL for a cash consideration of INR 24.19 crore. The transaction is aimed at improving organizational efficiency and unlocking business opportunities. WEPL, acquired by Eternal in August 2024, operates online/offline ticketing services for events and sports facilities. The board also approved Q4 and full year FY2026 financial results showing consolidated revenue of INR 17,292 crore and profit of INR 366 crore for the year, with auditor Deloitte giving an unmodified opinion.
This intra-group asset transfer at arm's length has minimal direct impact on shareholders as it involves moving assets between a parent company and its wholly owned subsidiary. The transaction is expected to improve operational efficiency within the group structure.