Zomato Ltd.’s share price jumped 3.32% on Friday following the announcement that its inactive Netherlands subsidiary, Zomato Netherlands B.V., had initiated liquidation.
Zomato, now known as Eternal Ltd., disclosed the liquidation process began on April 9.
Zomato Netherlands, a step-down subsidiary of Eternal, has been inactive and does not contribute to the company’s turnover or revenue. The dissolution of this non-material subsidiary is not expected to impact the company’s financial performance, the company said. Details of the liquidation were provided in compliance with SEBI regulations.
In a related development, Zomato officially changed its name to Eternal Ltd. on the stock exchanges on Wednesday, following approval from the…
