Eternal To Swap AdOnMo Stake For Mygate Shares In Proposed Merger Deal

Zomato and Blinkit parent Eternal has approved a deal to exchange its entire shareholding in digital advertising platform AdOnMo for shares in community management platform Mygate, as part of a proposed merger between the two startups. Eternal, in an exchange filing, said it would eventually own around 4.4% of the merged Mygate entity on a fully diluted basis. The stake is currently valued at ₹156 Cr.