Eternal share price volatile on foreign shareholding cap: What does it mean for business and MSCI weightage? EXPLAINED
Eternal, formerly known as Zomato, shares were volatile on Monday following the company’s decision to cap foreign shareholding at 49.5%. Eternal share price initially fell over 2% but later recovered, rising as much as 1.48% to an intraday high of ₹235.20 on the BSE.
The company’s board approved the proposal on April 18, which now awaits shareholder approval via postal ballot, with results expected by May 21, 2025. Once approved, the cap will be implemented immediately.
As of March 31, 2025, Foreign Institutional Investors (FIIs) held 44.88% in Eternal, while Indian ownership stood at 55% — meeting the requirement to qualify as an Indian – Owned – and – Controlled Entity (IOCC).
Also Read | Sensex jumps 800 points, Nifty 50…
