Zomato Parent Eternal to Swap Adonmo Stake for Mygate Shares
· Business · Business Standard
Zomato parent entity Eternal is swapping its entire stake in digital outdoor advertising firm Adonmo for shares in community management platform Mygate valued at ₹156 crore. The transaction involves the acquisition of 5,471 equity shares and 1,82,656 Series C preference shares in Mygate. Following the share swap, Eternal will hold a 14.5% stake in Mygate on a fully diluted basis. The deal allows Eternal to exit its investment in Adonmo while securing a position in Mygate's residential tech ecosystem. The transaction is structured as a share-swap agreement between the participating companies.
Why it matters
This transaction reshapes Eternal's portfolio by consolidating its footprint in the residential services and community tech sector while divesting from outdoor advertising.
Read the original report — Business Standard
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