Eternal limits foreign ownership to retain Indian status

Eternal, formerly Zomato, is seeking shareholder approval to limit foreign ownership to 49.5% to retain its Indian-owned-and-controlled company status. This will unlock new opportunities. The board approved the cap to maintain IOCC status, which will give Blinkit, Eternal's quick commerce business, more operational flexibility. This will allow Blinkit to transition to an inventory-led model. As an IOCC, Blinkit can introduce new product categories and improve margins. The company aims to optimize offerings and provide better value to customers in the fast-growing quick commerce market.