According to the food-tech major, ZVCL is not a material subsidiary of the company, and its dissolution ZVCL will not affect the turnover/revenue of the company
The announcement came a day after the listed food tech startup said that the liquidation process of its Polish step-down subsidiary, Gastronauci SP. Z.O.O., was initiated
The Zomato stock ended the day’s trade almost 2% up at INR 129.95 on the BSE
After dissolving its multiple global subsidiaries in 2023, the restructuring effort continues for food tech giant Zomato even in 2024.
In an exchange filing on Thursday (January 4), the company said that Zomato Vietnam Company Limited (ZVCL), a step-down subsidiary of Zomato Limited, situated in Vietnam has initiated the process of liquidation.