Eternal Limited has informed the exchange regarding the liquidation of Zomato Media Private Limited, wholly owned subsidiary of the Company located in Sri Lanka and Zomato Internet Hizmetleri Ticaret Anonim Sirketi, step down subsidiary of the Company located in Turkey
ETERNAL · price
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Awaiting price reaction for this filing.
Eternal Limited (formerly Zomato Limited) has informed the exchange about the liquidation of two of its foreign subsidiaries. The first is Zomato Media Private Limited, a wholly-owned subsidiary based in Sri Lanka. The second is Zomato Internet Hizmetleri Ticaret Anonim Sirketi, a step-down subsidiary based in Turkey. Both entities are being wound down as part of the company's international restructuring. The company has not disclosed specific financial details or timelines for the liquidation process. This move suggests Eternal is streamlining its overseas operations to focus on its core Indian businesses like Zomato and Blinkit.
This is a routine restructuring move with likely negligible impact on the stock price. Liquidation of small foreign subsidiaries should help Eternal focus on its profitable core businesses and reduce overhead costs, which is mildly positive for operational efficiency.