Blinkit parent Eternal’s board clears plan to cap foreign ownership at 49.5%

Share via:


The board of food and grocery delivery company 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 quick commerce unit, 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…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Blinkit parent Eternal’s board clears plan to cap foreign ownership at 49.5%


The board of food and grocery delivery company 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 quick commerce unit, 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…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Acquisitions fuel Roojai’s 49% growth forecast after ‘worst year’

After overcoming a 2024 weighed down by costs,...

How The House Of Brands Crumbled

“The road ahead won’t be easy, and it...

We’re Losing the Plot on AI in Universities

(Bloomberg Opinion) -- An artificial intelligence furor...

Popular

Upcoming Events

iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt
IPTV IPTV IPTV IPTV IPTV IPTV IPTV