The board of food and grocery delivery company rel=”dofollow” href=”https://economictimes.indiatimes.com/eternal-ltd/stocks/companyid-57948.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>Eternal has approved a proposal to cap foreign ownership in the firm at 49.5%, it said in a notice to the exchanges. The move is aimed at providing “greater operational flexibility” to its ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/quick-commerce” target=”_blank”>quick commerce unit, ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/blinkit” target=”_blank”>Blinkit, by allowing it to hold inventory — rather than operate solely as a marketplace, as required under India’s foreign investment rules.
As of March 31, Eternal’s domestic ownership stood at 55%, the company said in a regulatory filing. “As a result, the company now qualifies as an…
