Eternal x MyGate Stake Swap: Zomato Parent Gets 5.4% in Community Platform via Adonmo Deal

By Thanushree

Eternal (parent of Zomato and Blinkit) is swapping its full stake in digital advertising platform Adonmo for shares in MyGate, the gated-community management company. 

The share-swap deal is valued at about ₹156 crore. It is the first step toward a proposed merger of Adonmo and MyGate.

What Is the Eternal-MyGate Stake Swap?

Eternal will transfer its entire holding in Adonmo - 11,214 Series B compulsorily convertible preference shares and 10 equity shares to Vivish Technologies (which operates MyGate).

In return, Eternal receives 1,84,091 Series C1 compulsorily convertible preference shares and 164 equity shares in MyGate.

After the swap, Eternal will hold a 5.4% stake in MyGate on a fully diluted basis. Once the full merger of Adonmo and MyGate is completed, that stake is expected to dilute to approximately 4.4%.

No cash changes hands. The stake in the merged entity is currently valued at ₹156 crore. Eternal had invested ₹112 crore in Adonmo in January 2022, so the current valuation reflects an unrealised gain.

The share-transfer agreement is expected by 31 October 2026, with the transaction targeted for completion by 5 December 2026. It is not a related-party transaction and does not require special regulatory approvals.

What Does MyGate Do?

MyGate is a technology platform focused on gated residential communities and housing societies.

It offers:

• Visitor and delivery management

• Security and access control solutions

• Society accounting and billing tools

• Community engagement and communication features

The platform helps residential complexes manage daily operations more efficiently and securely. MyGate reported a turnover of ₹229 crore in FY26, up from ₹171 crore in FY25 and ₹96 crore in FY24. It serves a large network of households across India.

What Does Adonmo Do?

Adonmo is a digital advertising (adtech) company that operates a network of cloud-connected digital screens placed inside residential communities and gated societies.

Its main activities include:

• Running ambient digital advertising displays in housing complexes

• Providing targeted advertising opportunities to brands inside residential ecosystems

• Managing a network of over 55,000 digital screens across 27 cities

Adonmo helps brands reach residents where they live through screens installed in common areas of apartment complexes and societies.

Why the Deal Matters

This is part of Eternal’s broader effort to simplify its corporate structure and expand beyond pure food delivery and quick commerce into adjacent consumer tech platforms.

• MyGate provides visitor management, security, accounting, and community engagement tools for gated residential societies. It reported turnover of ₹229 crore in FY26 (up from ₹171 crore in FY25 and ₹96 crore in FY24).

• Adonmo runs a network of cloud-connected digital advertising screens inside residential communities.

The merger combines MyGate’s reach (reported coverage of around 60 lakh households) with Adonmo’s ad inventory (over 55,000 digital screens across 27 cities). This creates a stronger platform that can offer both community management services and targeted advertising inside the same residential ecosystems.

Timeline and Next Steps

After the merger, Adonmo will cease to exist as a separate company, and its other shareholders will become shareholders of the combined MyGate entity. Reports also indicate that Adonmo founders may join MyGate’s board.