Eternal to pick 4.4% stake in Mygate following divestment of digital ad business

Eternal, the parent company of Blinkit and Zomato, will acquire a 4.4% stake in Mygate through a share-swap agreement as it divests its stake in outdoor digital advertising business AdOnMo. In a disclosure to the stock exchanges, Eternal said it will transfer 11,214 Series B compulsorily convertible preference shares and 10 equity shares in AdOnMo Private Limited to Mygate. In exchange, Eternal will acquire 1,84,091 Series C1 compulsorily convertible preference shares and 164 equity shares in My