New Delhi: Zomato, the popular food delivery behemoth, has formally become Eternal Ltd. after its shareholders approved a name change. The move is strategic and mirrors the company’s diversification into various business verticals, as announced by CEO Deepinder Goyal. The move involves changes to the company’s Memorandum of Association (MoA) and Articles of Association (AoA), as revealed in a stock exchange filing4.
Major Changes:
In this transition, Zomato’s corporate website will change from zomato.com to eternal.com. The company’s stock ticker will also change from ZOMATO to ETERNAL4, The Eternal brand will be an umbrella organization that manages four major businesses:
o Zomato (food delivery)
o Blinkit (quick commerce, previously Grofers)
o Hyperpure (B2B supplies)
o District (restaurant services)4.
Despite the parent company adopting the Eternal identity, the Zomato food delivery platform will retain its name and branding. This ensures continuity for its customers while allowing the parent company to expand its scope4, internal, the name Eternal has been in use internally since Zomato’s acquisition of Blinkit in 2022. This internal adoption was a precursor to the broader strategic shift now being implemented4.
Deepinder Goyal has highlighted that the name change is a sign of the changing focus of the company. He mentioned that the name Eternal is an energetic one that implies a long-term vision and commitment, which he finds inspiring but also overwhelming4.
Strategic Change and Future Plans:
The move to rename the company to Eternal Ltd. is a major strategic realignment for Zomato. The company’s intention is to expand its business beyond food delivery. Some of the main areas of concentration are:
With Blinkit, Zomato hopes to tap into the increasing need for quick and convenient delivery services, Hyperpure will remain important in supplying restaurants and other companies, district will concentrate on improving restaurant services, integrating Zomato’s services more deeply into the overall food ecosystem4, the shareholder approval was imperative for bringing about these changes. Shareholders special resolution approving the change of name also revises the company’s constitutional documents, including the MoA and AoA. These updates are made because the amended provisions need to accommodate the increased scope and new business operations of the company4.
