Business Update21 Oct 2026, 03:39 pm
Eternal Ltd Restructures, Acquires Mygate Stake, Divests Adonmo
AI Summary
Eternal Limited (formerly Zomato Limited) announced a significant restructuring plan approved by its board. This includes transferring its 'Going-out India' business to its wholly-owned subsidiary, Zomato Entertainment Private Limited (ZEPL), for operational synergies. Additionally, Eternal Limited will divest its shares in Adonmo Private Limited to Vivish Technologies Private Limited (Mygate) as part of a transaction leading to a proposed merger between Adonmo and Mygate. Following the merger, Eternal Limited will hold approximately 4.4% equity stake in the merged Mygate entity, valued at INR 156 crore, representing a gain from its initial investment of INR 112 crore in Adonmo.
Key Highlights
- Board approves internal restructuring to consolidate 'Going-out India' business into ZEPL.
- Eternal Ltd divests Adonmo shares to Mygate for a stake in the merged entity.
- Post-merger, Eternal Ltd to hold ~4.4% stake in merged Mygate, valued at ₹156 crore.
- Company also approved unaudited financial results for Q2 FY27.
- Restructuring aims to streamline corporate structure and achieve operational synergies.
Price Impact
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