Zomato To Change Company Name To Eternal

Zomato Ltd. on Thursday approved a name change to Eternal Ltd., according to a notification to the exchanges. Its Founder and Chief Executive Officer Deepinder Goyal told shareholders that the change applies only to the company, not the brand or application.

The stock ticker will change from ZOMATO to ETERNAL. The company’s corporate website will also shift from zomato.com to eternal.com.

Goyal clarified that Eternal will operate four businesses—Zomato, Blinkit, District, and Hyperpure.

The company started using the name 'Eternal' internally after acquiring Blinkit in 2022. The word Eternal was used instead of Zomato to distinguish between the company and the brand/app, Goyal said.

Explaining the timing of the change, Goyal said that the company wanted to publicly rename to Eternal the day something beyond Zomato became a significant driver to its future. "Today, with Blinkit, I feel we are there."

The name change is subject to approvals from shareholders, the Ministry of Corporate Affairs, and other applicable statutory authorities, Zomato said. "I request our shareholders to also support this change," Goyal wrote.

Companies usually change their corporate names while retaining their consumer-facing brands to reflect a broader business strategy. This allows them to separate their corporate identity from individual brands, especially when they expand into multiple sectors.

A new parent company name helps in structuring various businesses under a single entity, making it easier to manage operations, attract investments, and establish a clearer corporate identity.

In a similar instance, Info Edge (India) Ltd. retained its name as the parent entity while operating well-known platforms like Naukri, Jeevansathi, and 99acres. This approach allowed Info Edge to manage multiple businesses without altering its established brands.

Globally, two major technology companies, Google and Facebook, followed a similar strategy. Google rebranded its parent company as Alphabet Inc. in 2015 to reflect its expansion beyond search and advertising, while Facebook became Meta in 2021 to align with its focus on the metaverse and other digital initiatives.