India, April 10 -- Marking its first disclosure post adopting the name Eternal on the bourses, Zomato's parent Eternal announced that its step-down subsidiary in the Netherlands, Zomato Netherlands, has initiated its liquidation process.

In an exchange filing, the company said that Zomato Netherlands is not a material subsidiary of the company and its dissolution will not affect the revenue of the company.

"Further, as disclosed in our red herring prospectus dated July 6, 2021 and prospectus dated July 19, 2021, Zomato Netherlands does not have any active business operation," the filing read.

Zomato Netherlands' turnover was nil in FY24, while its net worth stood at INR 32 Lakh. The liquidation of the subsidiary is expected to be compl...