Eternal Begins Liquidation of Zomato Netherlands, Signals Exit from International Ventures

Eternal Limited, the parent company of food delivery giant Zomato, has initiated the liquidation of its step-down subsidiary, Zomato Netherlands B.V., marking a significant step in winding down its dormant international operations. The announcement, Eternal’s first since rebranding from Zomato Limited on stock exchanges, underscores the company’s strategic pivot to focus exclusively on its thriving Indian market.

Zomato Netherlands, an inactive entity with no business operations, reported zero turnover in fiscal year 2024 and a net worth of approximately INR 32 lakh (about USD 38,000). According to an exchange filing, the subsidiary’s dissolution, effective April 9, 2025, is expected to conclude within a year and will have no material impact on Eternal’s revenue or financial performance. The company emphasized that Zomato Netherlands was not a significant contributor to its operations, having been dormant since its mention in Zomato’s 2021 red herring prospectus.

This move effectively closes the chapter on nearly all of Zomato’s international subsidiaries, signaling a retreat from its once-ambitious global expansion. At its peak, Zomato operated in over 20 countries, bolstered by high-profile acquisitions like UrbanSpoon in 2015, which aimed to establish a foothold in North America. However, the company began scaling back its overseas ventures in recent years, prioritizing profitability and growth in India’s booming food delivery and quick-commerce sectors. Other international units, including operations in markets like the UK, UAE, and Australia, have also been shuttered or divested, with Zomato exiting most foreign markets by 2023.

The liquidation aligns with Eternal’s streamlined vision, which now centers on four core businesses: Zomato’s food delivery platform, Blinkit’s quick-commerce service, Hyperpure’s B2B food supply chain, and District’s dining and events vertical. The company’s focus on India has paid dividends, with Eternal reporting a consolidated net profit of INR 351 crore in FY24, its first profitable year, and three consecutive profitable quarters in FY25.

Market response to the announcement was positive, with Eternal’s shares rising 3.32% to INR 217.99 on the BSE, reflecting investor confidence in the company’s disciplined approach to shedding non-core assets. Analysts view the liquidation as a prudent step to eliminate operational redundancies, allowing Eternal to channel resources into high-growth areas like Blinkit, which has emerged as a key driver of its valuation.

“Zomato’s decision to close Zomato Netherlands is a non-event financially but a clear signal of its laser focus on India,” said a market analyst. “The company has learned from its global overreach and is now doubling down on what it does best—disrupting India’s food and commerce ecosystem.”

As Eternal continues to reshape its identity beyond food delivery, the liquidation of Zomato Netherlands marks a quiet but symbolic end to its international aspirations, paving the way for a sharper, India-centric future.