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<!--REG30 V1.0 (16-10-2025)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-08-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-08-31.xsd"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543320</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-22</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543320</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-22</xbrli:startDate><xbrli:endDate>2026-10-22</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="D_SlumpSaleEntityOrDivision1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543320</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-22</xbrli:startDate><xbrli:endDate>2026-10-22</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember 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contextRef="OneI">543320</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">ETERNAL LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">ETERNAL</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE758T01015</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Slump Sale</in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="OneI">2026-10-21</in-capmkt:DateOfBoardMeeting><in-capmkt:EndTimeOfBoardMeeting contextRef="OneD">15:10:00</in-capmkt:EndTimeOfBoardMeeting><in-capmkt:DateOfReport contextRef="OneI">2026-10-22</in-capmkt:DateOfReport><in-capmkt:NameOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="I_SlumpSaleEntityOrDivision1">Going-out business in India</in-capmkt:NameOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:TypeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_SlumpSaleEntityOrDivision1">Others</in-capmkt:TypeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearRevenueOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_SlumpSaleEntityOrDivision1" unitRef="INR" decimals="-7">5870000000</in-capmkt:PreviousYearRevenueOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearPercentageOfRevenueOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0.0539</in-capmkt:PreviousYearPercentageOfRevenueOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_SlumpSaleEntityOrDivision1" unitRef="INR" decimals="-7">80000000</in-capmkt:PreviousYearNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearPercentageOfNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0.0002</in-capmkt:PreviousYearPercentageOfNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent><in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0</in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent><in-capmkt:NumberOfSharesUnderPublicCategoryPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">9212774343</in-capmkt:NumberOfSharesUnderPublicCategoryPreEvent><in-capmkt:PercentageOfSharesUnderPublicCategoryPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0.9547</in-capmkt:PercentageOfSharesUnderPublicCategoryPreEvent><in-capmkt:NumberOfSharesUnderOtherCategoryPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">437576304</in-capmkt:NumberOfSharesUnderOtherCategoryPreEvent><in-capmkt:PercentageOfSharesUnderOtherCategoryPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0.0453</in-capmkt:PercentageOfSharesUnderOtherCategoryPreEvent><in-capmkt:TotalNumberOfSharesPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">9650350647</in-capmkt:TotalNumberOfSharesPreEvent><in-capmkt:TotalPercentageOfSharesPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">1</in-capmkt:TotalPercentageOfSharesPreEvent><in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent><in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0</in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent><in-capmkt:NumberOfSharesUnderPublicCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">9212774343</in-capmkt:NumberOfSharesUnderPublicCategoryPostEvent><in-capmkt:PercentageOfSharesUnderPublicCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0.9547</in-capmkt:PercentageOfSharesUnderPublicCategoryPostEvent><in-capmkt:NumberOfSharesUnderOtherCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">437576304</in-capmkt:NumberOfSharesUnderOtherCategoryPostEvent><in-capmkt:PercentageOfSharesUnderOtherCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0.0453</in-capmkt:PercentageOfSharesUnderOtherCategoryPostEvent><in-capmkt:TotalNumberOfSharesPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">9650350647</in-capmkt:TotalNumberOfSharesPostEvent><in-capmkt:TotalPercentageOfSharesPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">1</in-capmkt:TotalPercentageOfSharesPostEvent><in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredIntoForSlumpSaleEvent contextRef="OneI">2026-10-21</in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredIntoForSlumpSaleEvent><in-capmkt:TheExpectedDateOfCompletionOfSlumpSaleEvent contextRef="OneI">2026-11-20</in-capmkt:TheExpectedDateOfCompletionOfSlumpSaleEvent><in-capmkt:NatureOfConsiderationForSlumpSaleEvent contextRef="OneD">Cash</in-capmkt:NatureOfConsiderationForSlumpSaleEvent><in-capmkt:DetailsOfConsiderationForSlumpSaleEvent contextRef="OneI">Cash consideration of an approximate amount of INR 130,75,56,871/- (Indian rupees one hundred thirty crores seventy five lakhs fifty six thousand eight hundred and seventy one only), will be paid by ZEPL to the Company, subject to the adjustments as agreed under the BTA.</in-capmkt:DetailsOfConsiderationForSlumpSaleEvent><in-capmkt:BriefDetailsOfBuyersSlumpSaleEvent contextRef="OneI">Zomato Entertainment Private Limited, wholly owned subsidiary of the Company</in-capmkt:BriefDetailsOfBuyersSlumpSaleEvent><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingSlumpSale contextRef="OneD">true</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingSlumpSale><in-capmkt:NatureOfInterestAndDetailsThereofForSlumpSaleEvent contextRef="OneI">ZEPL is the wholly owned subsidiary of the Company. The Company is professionally managed and does not have an identifiable promoter.
</in-capmkt:NatureOfInterestAndDetailsThereofForSlumpSaleEvent><in-capmkt:WhetherSlumpSaleEventWouldFallWithinRelatedPartyTransactions contextRef="OneD">true</in-capmkt:WhetherSlumpSaleEventWouldFallWithinRelatedPartyTransactions><in-capmkt:DateOfBoardMeetingInWhichRPTApprovalTakenForSlumpSaleEvent contextRef="OneI">2026-10-21</in-capmkt:DateOfBoardMeetingInWhichRPTApprovalTakenForSlumpSaleEvent><in-capmkt:DateOfAuditCommitteeMeetingInWhichRPTApprovalTakenForSlumpSaleEvent contextRef="OneI">2026-10-21</in-capmkt:DateOfAuditCommitteeMeetingInWhichRPTApprovalTakenForSlumpSaleEvent><in-capmkt:WhetherSlumpSaleEventRPTIsMaterial contextRef="OneD">false</in-capmkt:WhetherSlumpSaleEventRPTIsMaterial><in-capmkt:WhetherSlumpSaleEventIsDoneAtArmsLength contextRef="OneD">true</in-capmkt:WhetherSlumpSaleEventIsDoneAtArmsLength><in-capmkt:BriefDetailsOfChangeInShareholdingPatternOfAllEntitiesForSlumpSaleEvent contextRef="OneI">Nil</in-capmkt:BriefDetailsOfChangeInShareholdingPatternOfAllEntitiesForSlumpSaleEvent></xbrli:xbrl>
