Zomato's approved change of title to Eternal will come into effect on April 9.
Despite the change in corporate title, Zomato's food delivery app and brand will retain its familiar name.
The decision to adopt the 'Eternal' moniker reflects Zomato's expanding business portfolio, which includes its food delivery service, quick-commerce platform Blinkit, B2B supplies business Hyperpure, and dining-out platform District.
Bank of America has downgraded its ratings for Zomato and Swiggy, citing concerns about slowing growth and the gradual pace of margin improvement in the food delivery sector.