Eternal Acquires 4.4% Stake in Mygate Through AdOnMo Share Swap

21 Oct 2026, 7:48 pm · 21h ago · 1 min read · YourStory

Eternal, the parent company of Zomato and Blinkit, is set to acquire a 4.4% stake in community management platform Mygate through a share-swap agreement as it divests outdoor digital ad network AdOnMo. Eternal will transfer 11,214 Series B compulsorily convertible preference shares and 10 equity shares of AdOnMo to Mygate. In exchange, Eternal receives 1,84,091 Series C1 CCPS and 164 equity shares in Mygate. AdOnMo founders Sandeep Bommireddi and Sravanth Gajula will join Mygate's board as co-founders. Mygate operates across 30,000 communities, while AdOnMo brings 55,000 connected screens across 27 Indian cities.