Zomato has dissolved its subsidiary in Canada | View the stock price

According to the Company’s BSE filing, Zomato Canada was not a material subsidiary of the Company. Also its closure has no impact on its turnover or revenue.

Zomato Limited has dissolved Zomato Canada. According to a BSE filing, also the online food delivery platform Zomato Canada did not have any active business operations.

“We would like to submit that Zomato Canada Inc. (“Zomato Canada”), a step-down subsidiary of the Company based in Canada, be dissolved effective March 22, 2022,” Zomato said in a statement.

CANADA’S ZOMATO

• Zomato Canada had no active business operations.
• Additionally, as disclosed in our red herring prospectus dated July 6, 2021, and prospectus dated July 19.
• “By 2021, Zomato Canada had no active business operations,” Zomato stated.
• According to the Company’s BSE filing, Zomato Canada was not a material subsidiary of the Company, also its closure has no impact on its turnover or revenue.
• According to the statement, Zomato Canada had a ‘NIL’ turnover as of March 31, 2021, also Zomato Canada’s contribution to the Company’s net worth was 0.00%.

ZOMATO SHARE VALUE

On the BSE, Zomato’s share price rose 1.30 percent to Rs 81.75 on Thursday. Also On the NSE, the Company’s share price increased by 1.11 percent to Rs 81.65.