Info Edge updates on startup investments and Shopkirana stake transfer

Info Edge (India) Limited's Board of Directors approved an additional investment of INR 120 crores in Startup Internet Services Ltd. (SISL), a wholly-owned subsidiary. This is from an initial approved amount of INR 300 crores, with the remaining INR 180 crores to be disbursed in tranches over the next six months based on SISL’s future fund requirements.

The company also provided an update on the agreement to transfer its entire stake in Shopkirana E Trading Private Limited. This transfer, involving 60,673 shares representing 26.14% ownership, will now see Trustroot Internet Private Limited (TIPL) directly acquire the shares. In consideration, TIPL will issue and allot SIHL certain shares of TIPL, valued at $23.13 million. The transaction is expected to conclude by March 31, 2026.

Previously, SIHL was to receive 16,870,568 shares of HEPL, equating to approximately 0.91% on a fully converted and diluted basis. This initial arrangement was linked to 73,561 reference shares of SIHL at the TIPL level, valued at $314.3863 per TIPL share.