Zomato CEO Deepinder Goyal, in his letter to shareholders, revealed the reason behind changing the company's name to ‘Eternal.’ Shares closed lower ahead of announcement on Thursday.

New Delhi: Zomato Ltd on Thursday announced that its board has apporved the change of name of the company to Eternal Ltd., marking a significant transformation in its corporate identity. Deepinder Goyal, CEO, Zomato made this announcement on his official social media handle on X by posting the formal announcement letter.

Despite the name change, the Zomato app will continue to operate under its existing name. However, the company's stock ticker will now be updated from Zomato to Eternal.

Zomato, the food delivery company, will no longer be called by the same name, as the company’s board has approved the change in the name (Zomato’s name change), according to its CEO Deepinder Goyal.

Eternal is not a new name that Zomato had adopted suddenly, instead they first used the name when the company acquired quick-services application, Blinkit.

Zomato Ltd has changed its company name to Eternal Ltd, Co-founder and CEO Deepinder Goyal shared in a statement on X.

The announcement, made by CEO Deepinder Goyal in a letter to shareholders, marks a defining moment in the company’s evolution as it expands into multiple business verticals.

CEO Goyal in a letter to shareholders said that his team started referring to Zomato as 'Eternal' after acquiring it. "Zomato is an accidental company. It was born out of a simple desire to serve, and over time, it became a business. And the journey has been nothing short of extraordinary," excerpts from his letter read.

The board of Zomato has approved the proposal to change the name of the company from ‘Zomato Limited’ to ‘Eternal Limited’.