Blinkit parent Eternal’s board clears plan to cap foreign ownership at 49.5%

The board of food and grocery delivery company Eternal has approved a proposal to cap foreign ownership in the firm at 49.5%, it said in a notice to the exchanges. The move is aimed at providing “greater operational flexibility” to its quick commerce unit, Blinkit, by allowing it to hold inventory — rather than operate solely as a marketplace, as required under India’s foreign investment rules.

As of March 31, Eternal’s domestic ownership stood at 55%, the company said in a regulatory filing. “As a result, the company now qualifies as an…