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Zomato Parent Eternal to Swap Adonmo Stake for ₹156 Crore Mygate Shares
Sentiment: NeutralHigh Priority
What Happened?
Eternal, Zomato's parent company, will sell its entire stake in Adonmo to Vivish Technologies for shares in Mygate, valued at ₹156 crore. This move is part of a proposed merger.
Key points
- Eternal will transfer 11,214 Series B preference shares and 10 equity shares in Adonmo.
- In return, Eternal will receive 1,84,091 Series C1 preference shares and 164 equity shares in Mygate.
- The transaction is valued at approximately ₹156 crore.
- Eternal's stake in the combined entity post-merger is estimated at 4.4% on a fully diluted basis.
- Eternal previously invested ₹112 crore in Adonmo in January 2022.
- Mygate's turnover increased to ₹229 crore in FY26 from ₹171 crore in FY25.
Key insights
- The merger may enhance operational efficiencies between Adonmo and Mygate.
- Eternal's restructuring could lead to better resource allocation within its subsidiaries.
- The transaction reflects a strategic shift towards consolidating digital assets.
Why it matters
This transaction could reshape the digital advertising landscape by merging Adonmo with Mygate.
Entities
Eternal· CompanyZomato· CompanyAdonmo· CompanyMygate· CompanyVivish Technologies· Company
Source
Business Standard
