Eternal Limited, formerly known as Zomato Limited, has released its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by ICRA Limited, confirms that the utilization of proceeds from the qualified institutions placement is in line with the stated objects of the issue, with no deviation observed. The total proceeds available for utilization were INR 8,436.12 Crore.
Eternal Limited Details Fund Utilization for Q3 FY27
Eternal Limited, previously operating as Zomato Limited, has provided an update on the utilization of funds raised through a qualified institutions placement. The company’s Monitoring Agency Report for the quarter ending September 30, 2026, issued by ICRA Limited, confirms that the deployment of these proceeds aligns with the company’s initial objectives.
Proceeds Overview
The total net proceeds from the placement available for utilization by the company amounted to INR 8,436.12 Crore. This report serves to offer transparency regarding how these significant funds are being applied across various business objectives.
Utilization Status: No Deviation
A key finding of the report is that the utilization of the issue proceeds is in line with the objects of the issue, with no deviation observed. This indicates that the company is adhering to its stated plans for deploying the raised capital.
Breakdown of Fund Allocation
The report details the cost of specific objectives to be monitored:
- Expenditure towards setting up and running operations of Dark Stores and warehouses: INR 2,137.00 Crore
- Advertising, marketing and branding initiatives across business offerings: INR 2,492.00 Crore
- Investment in technology infrastructure and capabilities, including cloud infrastructure and software, and towards development of technological capabilities: INR 1,769.00 Crore
- General corporate purposes: INR 2,038.12 Crore
The total aggregate cost for these objectives amounts to INR 8,436.12 Crore.
Progress on Objects
The report also outlines the progress in the implementation of these objectives:
- Expenditure towards setting up and running operations of Dark Stores and warehouses: Utilized INR 2,137.00 Crore as of the end of the quarter, with INR 2,137.00 Crore proposed in the offer document.
- Advertising, marketing and branding initiatives across business offerings: Utilized INR 1,866.58 Crore against INR 2,492.00 Crore proposed. A portion of INR 20.44 crore was reimbursed from internal accruals.
- Investment in technology infrastructure and capabilities: Utilized INR 1,211.62 Crore against INR 1,769.00 Crore proposed. A portion of INR 68.76 crore was reimbursed from internal accruals.
- General corporate purposes: Utilized INR 1,767.69 Crore against INR 2,038.12 Crore proposed.
The total unutilized amount across all objectives stands at INR 1,453.23 Crore as of September 30, 2026.
Deployment of Unutilized Proceeds
The unutilized proceeds have been deployed in various instruments, including fixed deposits with banks and mutual fund units. The total market value of these investments at the end of the quarter was INR 1,649.48 Crore.
Implementation Timeline
Regarding completion dates, the objective for Expenditure towards setting up and running operations of Dark Stores and warehouses was completed. Other objectives, including Advertising, marketing and branding initiatives, Investment in technology infrastructure, and General corporate purposes, are currently On Schedule as per the offer document, with target completion dates of Upto FY28.
General Corporate Purpose (GCP) Utilization
The report also details the utilization of proceeds for General Corporate Purpose, which includes employee benefit and other expenses across several quarters from Q3FY25 to Q2FY27, totaling INR 1,767.69 Crore.
Source: BSE
