India, April 18 -- Zomato and Blinkit parent Eternal will soon cap the foreign ownership in the company at 49.5%. In a meeting today, the company's board approved the proposal to cap the foreign ownership on a fully diluted basis.

The investors whose shareholding will be capped include FDI, foreign portfolio investors and non-resident Indians (NRIs). The company will now seek the approval of its shareholders for the proposal.

At the end of the March quarter, foreign shareholding in Eternal stood at 44.36%. This was about 3% lower than the 47.30% foreign shareholding Eternal had at the end of the December quarter. Its foreign stakeholders include Kuwait Investment Authority Fund, Antfin, Vanguard, Singapore government, among others.

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