Eternal swaps Adonmo stake for 5.4% of MyGate in ₹156 crore deal

what happened

Eternal, the parent company of Zomato and Blinkit, plans to acquire a 5.4% stake in MyGate through a share swap valued at about ₹156 crore. It will hand over its full holding in Adonmo, a digital advertising platform, to Vivish Technologies, which operates as MyGate, and receive MyGate shares in return. After the planned merger of Adonmo and MyGate, Eternal would hold roughly 4.4% of the combined entity on a fully diluted basis. The share transfer agreement is expected by October 31, 2026, with completion scheduled for December 5, 2026, subject to definitive agreements.

Separately, Eternal's board approved moving its India going-out business into its wholly owned subsidiary Zomato Entertainment through a slump sale. The business generated ₹587 crore of revenue in FY26, or 5.39% of standalone revenue. The cash consideration is about ₹130.76 crore and the transfer is expected to complete within 30 days of signing.

why it matters

The deal is small and mainly reshuffles ownership within the group, so the impact on Eternal shares is limited. Consolidating the going-out operations under one subsidiary reflects a push to simplify the corporate structure. In the September quarter of FY27, profit after tax rose 92.3% to ₹125 crore and revenue grew 77.6% to ₹24,138 crore.

market impact

Eternal: internal group restructuring with no direct effect on cash flows

tags

instruments