Now Reading: Mygate and Eternal-backed Adonmo to merge, create Rs 3,500 crore entity
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Mygate and Eternal-backed Adonmo to merge, create Rs 3,500 crore entity
Mygate and Eternal-backed Adonmo to merge, create Rs 3,500 crore entity
The Story in Brief
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: 4 sources, 4 neutral
Sources (4): economictimes.indiatimes.com (neutral report), inc42.com (neutral report), cnbctv18.com (neutral report), business-standard.com (neutral report)
This brief was synthesised by AI from the 4 sources linked above, so one read covers every framing they carry. Methodology and corrections.
