Zomato and Blinkit parent Eternal will soon cap the foreign ownership in the company at 49.5%. In a meeting today, the company’s board approved the proposal to cap the foreign ownership on a fully diluted basis.

The investors whose shareholding will be capped include FDI, foreign portfolio investors and non-resident Indians (NRIs). The company will now seek the approval of its shareholders for the proposal.

At the end of the March quarter, foreign shareholding in Eternal stood at 44.36%. This was about 3% lower than the 47.30% foreign shareholding Eternal had at the end of the December quarter. Its foreign stakeholders include Kuwait Investment Authority Fund, Antfin, Vanguard, Singapore government, among others.

Meanwhile, domestic shareholders increased their stake in the company to 23.56% at the end of the last quarter from 20.54% at the end of the December quarter. Domestic mutual funds that hold a stake in the company include Mirae Asset, Axis, HDFC, Kotak, ICICI.

(The story will be updated soon.)

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