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Zomato Announces Dissolution Of Subsidiaries In NZ, Australia
Zomato NZ Media Private Limited is Zomato’s New Zealand-based wholly-owned subsidiary, whereas Zomato Australia Pty Limited is based out of Australia and is a step-down subsidiary
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Zomato on Friday announced the dissolution of its two subsidiaries including Zomato NZ Media Private Limited (ZNZMPL) and Zomato Australia Pty Limited (ZAPL).
Zomato NZ Media Private Limited is Zomato’s New Zealand-based wholly-owned subsidiary, whereas Zomato Australia Pty Limited is based out of Australia and is a step-down subsidiary.
The Indian multinational restaurant aggregator and food delivery company had mentioned in its red herring prospectus dated 6 July 2021 and prospectus dated 19 July 2021 that both ZNZMPL and ZAPL didn't have any active business operations.
Zomato in a regulatory filing in BSE clarified that ZNZMPL and ZAPL are not material subsidiaries of the company and that the dissolution of ZNZMPL and ZAPL will not affect the turnover/revenue of the company.