Eternal secures board nod to cap foreign ownership at 49.5%

Eternal (formerly Zomato) is seeking shareholder approval to cap foreign ownership at 49.5% to maintain its status as an Indian-owned-and-controlled company (IOCC). This move aims to unlock new opportunities for its quick commerce business, Blinkit, potentially allowing it to transition to an inventory-led model and introduce underserved categories, improving margins and customer offerings.