{"id":3192,"date":"2021-08-20T13:23:18","date_gmt":"2021-08-20T13:23:18","guid":{"rendered":"http:\/\/tradebrains.in\/features\/?p=3192"},"modified":"2021-08-20T13:23:21","modified_gmt":"2021-08-20T13:23:21","slug":"zomato-dissolves-its-subsidiary-in-the-united-states","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/zomato-dissolves-its-subsidiary-in-the-united-states\/","title":{"rendered":"Zomato Dissolves its Subsidiary in the United States"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-68122059\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p><strong>Synopsis<\/strong>: &#8220;ZUL was not a material subsidiary of the company (Zomato) and didn&#8217;t have any business activity and the dissolution of ZUL will not affect the turnover\/revenue of the company.&#8221; Zomato said<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2515825233\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Zomato had previously listed at a 52 per cent premium at \u20b9 115 on stock exchanges on July 23. Zomato, India&#8217;s largest meal delivery service, has announced that Zomato USA LLC (ZUL), its step-down subsidiary in the United States, has been liquidated and wound up. <\/p><p>&#8220;ZUL (Zomato USA LLC) was not a material subsidiary of the company (Zomato) and didn&#8217;t have any business activity and the dissolution of ZUL will not affect the turnover\/revenue of the company.&#8221; In a regulatory statement to the stock exchanges, Zomato stated.<\/p><p>A subsidiary of a subsidiary is referred to as a step-down subsidiary firm. For example, if A is the holding firm, B is A&#8217;s subsidiary, and C is B&#8217;s subsidiary, C is A&#8217;s step-down subsidiary. <\/p><div class=\"trade-content_5\" id=\"trade-2943758906\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Zomato said it got a notice on August 18 of the dissolution and winding up of Zomato USA LLC, which will take effect on August 17, 2021.<\/p><p>Zomato has made a sensational premiere on Dalal Street on July 23. The shares opened at a 52 per cent premium at \u20b9 115 on the stock exchanges and concluded 65 per cent higher at \u20b9 125 on their first day. <\/p><p><a href=\"https:\/\/portal.tradebrains.in\/stock\/ZOMATO\/standalone\" target=\"_blank\" rel=\"noreferrer noopener\">Zomato shares<\/a> were up 0.7 per cent at \u20b9 137.40 on the BSE at 12:30 p.m., compared to a 0.34 per cent decrease in the benchmark indices.<\/p><p>Because of the second wave of the pandemic and isolated lockdowns, the dining-out industry fell in the June quarter, as projected. According to Zomato, the dining-out segment\u2019s revenues are decreasing sequentially.<\/p><p>At the same time, Zomato said that losses at Hyper pure increased in the June quarter as a result of investments in the company\u2019s expansion.<\/p><p>Zomato\u2019s operating results were not particularly impressive, with adjusted earnings before interest, taxes, depreciation, and amortization rising to about Rs. 170 crore from Rs. 120 crore the previous quarter.<\/p><div class=\"trade-content-10\" id=\"trade-2105893063\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>\u201cThis divergence in reported profit\/loss and adjusted EBITDA will continue going forward,\u201d Zomato said.<\/p><p><br><\/p><div class=\"trade-after-content\" id=\"trade-179495068\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Synopsis: &#8220;ZUL was not a material subsidiary of the company (Zomato) and didn&#8217;t have any business activity and the dissolution of ZUL will not affect the turnover\/revenue of the company.&#8221; Zomato said Zomato had previously listed at a 52 per cent premium at \u20b9 115 on stock exchanges on July 23. Zomato, India&#8217;s largest meal [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":3200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[936,932,933,935,289,462],"class_list":["post-3192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-stock-market-news","tag-zomato-dissolves-subsidiary","tag-zomato-headquarters","tag-zomato-news","tag-zomato-revenue","tag-zomato-share-price"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Zomato Dissolves its Subsidiary in the United States<\/title>\n<meta name=\"description\" content=\"Zomato Dissolves its Subsidiary - Zomato said it got a notice on August 18 of the dissolution and winding up of Zomato USA LLC...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/zomato-dissolves-its-subsidiary-in-the-united-states\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zomato Dissolves its Subsidiary in the United States\" \/>\n<meta property=\"og:description\" content=\"Zomato Dissolves its Subsidiary - 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