Eternal Limited (formerly known as Zomato Limited) announced the outcomes of its board meeting held on April 28, 2026, where directors approved the Q4FY26 financial results and a significant asset transfer agreement with its wholly-owned subsidiary.

Board Meeting Outcomes

The board meeting, which commenced at 2:00 PM and concluded at 3:04 PM on April 28, 2026, addressed two key agenda items with significant implications for the company's operational structure and financial reporting.

Financial Results Approval

The board approved both standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. M/s Deloitte Haskins & Sells, the company's statutory auditor, issued an audit report with an unmodified opinion on the financial results, indicating clean and transparent financial reporting.

Strategic Asset Transfer Agreement

The board approved entering into an asset transfer agreement with Wasteland Entertainment Private Limited (WEPL), the company's wholly-owned subsidiary. This transaction involves transferring the District platform technology stack along with identified employees to improve organizational efficiency and unlock business opportunities.

Subsidiary Business Profile

Wasteland Entertainment Private Limited operates in the events and entertainment sector, providing comprehensive ticketing services for various activities. The subsidiary engages in online and offline ticketing services for events, sports facility bookings, and ancillary services to event organizers, positioning it strategically within the company's diversified platform ecosystem.

Regulatory Compliance

The transaction falls within related party transaction guidelines and is conducted at arm's length pricing. As the deal involves asset transfer rather than business unit disposal, certain regulatory requirements under listing regulations are not applicable. The company confirmed no changes to shareholding patterns resulting from this transaction.

Corporate Governance

The company maintains professional management structure without an identifiable promoter. All transaction details and financial results will be hosted on the company's website at www.eternal.com , ensuring transparency and accessibility for stakeholders and investors.

Eternal Limited has filed its monitoring agency report with the stock exchanges regarding the utilization of proceeds from its qualified institutions placement (QIP) for the quarter ended March 31, 2026. The report, issued by ICRA Limited as the monitoring agency, confirms that the utilization of issuance proceeds is in line with the objects of the issue with no deviation observed. The disclosure was made pursuant to Regulation 173A of the SEBI (ICDR) Regulations, 2018 and Regulation 32 of the SEBI (LODR) Regulations, 2015.

The QIP issue was conducted between November 25 and November 28, 2024, involving the issuance of 33,64,73,755 equity shares of face value Rs 1 each at a price of Rs 252.62 per equity share. The issue size aggregated to Rs 8,500 crore, with net proceeds of INR 8,436.12 crore as per the placement document. ICRA Limited is monitoring the net proceeds of INR 8,436.12 crore for Q4 FY2026.

Utilization of Proceeds

The proceeds from the QIP were allocated across four primary objectives. The company has reported utilization across these categories as follows:

During Q4FY26 specifically, the company utilized Rs 217.98 crore towards general corporate purposes, which primarily covered employee benefit and other expenses of Eternal Limited and its subsidiaries. The cumulative utilization across all quarters reached Rs 5,599.08 crore, leaving Rs 2,837.04 crore unutilized as of March 31, 2026.

Deployment of Unutilized Proceeds

The unutilized proceeds of Rs 2,837.04 crore have been deployed in various financial instruments. The investments include fixed deposits with Kotak Mahindra Bank, Axis Bank, HDFC Bank, and ICICI Bank, corporate deposits with Mahindra & Mahindra Financial Services Limited, government securities, and various liquid funds. These investments have generated returns ranging from 6.30% to 8.14%, with total earnings of Rs 219.38 crore and a current market value of Rs 3,057.38 crore.

Implementation Status

All implementation projects are reported to be on schedule according to the monitoring agency report. The completion targets for all objects, including dark stores and warehouses setup, advertising and marketing initiatives, technology infrastructure investment, and general corporate purposes, are set for FY26-FY28. The company confirmed that there are no material deviations from the expenditures disclosed in the offer document, and all government and statutory approvals related to the objects have been obtained. No favorable or unfavorable events affecting the viability of these objects have been reported.