Zomato's Eternal swaps Adonmo stake for Mygate shares worth ₹156 crore

Eternal has agreed to exchange its entire stake in Adonmo for Mygate shares in a transaction valued at ₹156 crore, according to filings with regulatory authorities. The swap represents a strategic reallocation of Eternal's investment portfolio as it narrows its focus across its subsidiary companies.

As part of the broader restructuring initiative, Eternal will simultaneously transfer its going-out India business operations to a dedicated subsidiary for a valuation of ₹130.76 crore. This move comes as the parent entity seeks to streamline its corporate structure and clarify ownership structures across its various business ventures.

Mygate, a logistics and last-mile delivery solutions provider, will gain Eternal as a significant shareholder through the transaction. The company has been expanding its operations across urban centres in India, competing in the growing logistics segment where e-commerce and food delivery platforms have driven demand for efficient delivery infrastructure.

The transactions underscore ongoing consolidation and portfolio optimization within the Zomato ecosystem. Eternal has been instrumental in structuring various business divisions under different operating entities, and these moves reflect continued efforts to organize the conglomerate's holdings more efficiently.

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