Eternal Share Price in Focus as Board Approves Business Restructuring and Equity Swap

On October 21, 2026, Eternal Limited's board of directors approved key strategic initiatives, including a business restructuring through a slump sale to Zomato Entertainment Private Limited and an equity swap with Mygate, as per the exchange filings.  

These moves aim to streamline operations and enhance efficiency. 

Business Restructuring and Slump Sale 

The board approved a Business Transfer Agreement to execute a slump sale of its Going-out India commercial division to its wholly-owned subsidiary, Zomato Entertainment Private Limited.  

This restructuring is intended to consolidate operations within Orbgen Technologies and Wasteland Entertainment, creating a unified entity to unlock operational synergies.  

The division generated standalone fiscal revenue of ₹587 crore in 2025-26, representing 5.39% of the parent company's aggregate standalone revenue.  

The standalone net worth of the division is ₹8 crore, and Zomato Entertainment will pay ₹130.76 crore in cash for the asset purchase. 

Equity Swap with Mygate 

Eternal Limited approved an equity swap involving Adonmo Private Limited and Mygate. The company will transfer its equity in Adonmo to Mygate, receiving 1,84,091 Series C1 preference shares and 164 equity shares in Mygate.  

This transaction is set to complete by December 5, 2026, and serves as an initial step towards a full merger between Adonmo and Mygate. Post-merger, Eternal will hold a 4.4% equity stake in Mygate, valued at ₹156 crore, up from the ₹112 crore invested in 2022. 

Consolidated Financial Performance 

For Q2 2026, Eternal Limited reported consolidated revenue of ₹24,138 crore, an increase from ₹13,590 crore in Q2 2025. The total half-year consolidated operational inflows reached ₹44,349 crore, with other income contributing ₹726 crore.  

Consolidated expenditure for the quarter was ₹24,166 crore, with stock-in-trade purchases being the largest expense at ₹15,746 crore. Local delivery and logistics expenses were ₹3,581 crore, while employee benefit costs were ₹1,146 crore.  

Profit before exceptional items and tax was ₹323 crore, up from ₹129 crore in Q2 2025. Net profit after tax for the six months ended September 30, 2026, was ₹217 crore, with basic earnings per share at ₹0.24. 

Read More: Discover the Latest in Financial Restructuring and Equity Transactions! 

Segment Revenue Breakdown 

The Quick Commerce segment generated ₹19,152 crore in Q2, while India food ordering and delivery operations contributed ₹3,396 crore. The B2B Hyperpure supplies division recorded ₹1,154 crore in sales, and the Going Out division had an operating loss of ₹55 crore.  

The company is contesting tax demands totaling ₹420 crore from regional GST authorities, related to delivery fees collected on behalf of drivers. Management believes their legal position is defensible. 

QIP Monitoring and Capital Allocation 

Eternal Limited submitted its QIP Monitoring Agency Report on October 21, 2026, detailing the use of ₹8,436.12 crore in net proceeds from a Qualified Institutions Placement concluded in November 2024.  

The funds were allocated to dark store and logistics warehouse construction, marketing initiatives, technology capabilities, and general corporate purposes. The monitoring agency reported no deviations from the planned allocations, with dark store infrastructure completed ahead of schedule. 

Eternal Share Price Performance 

As of October 22, 2026, at 10:59 AM, Eternal share price on NSE was trading at ₹313.10, up by 0.24% from the previous closing price. 

Conclusion 

Eternal Limited's board approved a business restructuring through a slump sale to Zomato Entertainment and an equity swap with Mygate. The company reported consolidated revenue of ₹24,138 crore for Q2 2026, with a net profit after tax of ₹217 crore for the six months ended September 30, 2026. 

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