New Delhi, April 21 -- Eternal, formerly known as Zomato, shares were volatile on Monday following the company's decision to cap foreign shareholding at 49.5%. Eternal share price initially fell over 2% but later recovered, rising as much as 1.48% to an intraday high of Rs.235.20 on the BSE.

The company's board approved the proposal on April 18, which now awaits shareholder approval via postal ballot, with results expected by May 21, 2025. Once approved, the cap will be implemented immediately.

As of March 31, 2025, Foreign Institutional Investors (FIIs) held 44.88% in Eternal, while Indian ownership stood at 55% - meeting the requirement to qualify as an Indian - Owned - and - Controlled Entity (IOCC).

Eternal said the move aims to pr...