Apart from name change, the shareholders approved a resolution to make necessary alterations to its Memorandum of Association (MoA) and Articles of Association (AoA).
The approval was granted following a postal ballot, as communicated by the company in its letter dated February 6 and February 7.
The resolution, passed with shareholder consent, will lead to a modification of the company’s foundational legal documents, including the MoA and AoA, to reflect the new name, the stock exchange notification mentioned.
This marks a significant step in the company’s strategic direction. The details regarding the voting outcomes were published in a scrutiniser’s report on March 9.The move to alter the company’s name and constitutional documents is expected to signal a new phase in the company’s growth, as it continues to evolve within the competitive food delivery and tech space.
On February 6, the company’s board of directors approved the change in a resolution subject to shareholder and regulatory approvals.
The rebranding reflects Zomato’s shifting vision as the company seeks to expand beyond its food delivery origins, now incorporating diverse ventures such as Blinkit, District, and Hyperpure.
As part of this transformation, Zomato will move its corporate website from zomato.com to eternal.com, and its stock ticker will be updated from ZOMATO to ETERNAL. Zomato’s CEO, Deepinder Goyal, had shared the information in a letter to shareholders.
Goyal mentioned that following the acquisition of Blinkit, the management began using the brand name “Eternal” internally to differentiate between the company and the Blinkit app/brand.
Zomato shares were down 0.88% at ₹214.92 apiece at 11 am on Monday, March 10. The stock has declined 22.27% this year, so far.
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