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Eternal To Cap Foreign Ownership At Under 50%
- Zomato and Blinkit parent company Eternal plans to cap foreign ownership at 49.5%.
- The proposal includes capping the ownership of FDI, FPIs, and NRIs.
- At the end of the March quarter, foreign shareholding in Eternal was 44.36%.
- The move is likely driven by the Indian government's preference for higher domestic ownership in quick commerce grocery delivery companies.
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