# Mygate and Eternal-backed Adonmo to merge, create Rs 3,500 crore entity

2026-10-21T15:19:49+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 4 independent outlets

Mygate and digital advertising firm Adonmo are merging in an all-stock deal to create a combined entity valued at around Rs 3,500 crore with annual revenues of Rs 500 crore, the Economic Times reports. Mygate cofounder and CEO Abhishek Kumar said the merger will help diversify beyond in-app ads to advertising in housing societies. Eternal, parent of Zomato and Blinkit, will swap its entire stake in Adonmo for shares in Mygate as part of the deal. Inc42 reports Eternal will eventually own about 4.4% of the merged Mygate entity on a fully diluted basis, valued at Rs 156 crore, compared with its Rs 112 crore investment in Adonmo in January 2022. CNBC-TV18 puts Eternal’s initial stake at 5.4% before dilution and the eventual stake at 4.4%. The share transfer agreement is expected by 31 October 2026, with completion by 5 December 2026, according to CNBC-TV18. Adonmo will cease to exist as a separate entity after the merger.

## Indian Opinion Analysis

The four sources report the same deal with nearly identical facts, offering uniform neutral coverage. The Economic Times leads with the combined entity’s Rs 3,500 crore valuation and Rs 500 crore annual revenue. Inc42 and CNBC-TV18 both detail Eternal’s stake swap but differ on the pre-dilution figure: Inc42 and Business Standard report Eternal’s eventual stake at 4.4%, while CNBC-TV18 first says 5.4% before clarifying that the post-merger stake is 4.4% on a fully diluted basis. CNBC-TV18 also provides the clearest timeline: share transfer agreement by 31 October 2026 and completion by 5 December 2026, a concrete deadline the other outlets omit.

## Coverage

Coverage: 4 sources, 4 neutral
- economictimes.indiatimes.com (neutral report) <https://economictimes.indiatimes.com/tech/startups/mygate-eternal-backed-digital-ads-firm-adonmo-to-merge-create-rs-3500-crore-entity/articleshow/135088595.cms>
  Leads with combined entity valuation and revenue
- inc42.com (neutral report) <https://inc42.com/buzz/eternal-to-swap-adonmo-stake-for-mygate-shares-in-proposed-merger-deal/>
  Focuses on Eternal's stake swap and valuation gain
- cnbctv18.com (neutral report) <https://www.cnbctv18.com/business/companies/eternal-swaps-adonmo-for-mygate-stake-in-rs-156-crore-deal-20016297.htm>
  Includes Eternal's Q2 results and restructuring details
- business-standard.com (neutral report) <https://www.business-standard.com/companies/news/zomato-parent-eternal-to-swap-adonmo-stake-for-156-crore-mygate-shares-126102101172_1.html>
  Reports Mygate turnover figures and restructuring

This brief was synthesised by AI from the 4 sources linked above, so one read covers every framing they carry.

Tags: Adonmo, Eternal, Mygate, Vivish Technologies, Zomato
Canonical: https://indianopinion.org/mygate-and-eternal-backed-adonmo-to-merge-create-rs-3500-crore-entity/
License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources.
Cite: https://indianopinion.org/mygate-and-eternal-backed-adonmo-to-merge-create-rs-3500-crore-entity/#story-in-brief

How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/