Info Edge to Invest ₹250 Crore in Deep-Tech AIF, Exits Shopkirana via Share Swap Deal
Investment in A88 Fund I to Back Early-Stage Deep-Tech Startups
New Delhi, March 28Info Edge (India) Ltd has announced plans to invest up to ₹250 crore in an alternative investment fund aimed at supporting early-stage deep-tech companies in India.
According to a regulatory filing, the company has entered into a contribution agreement with A88 Fund I, a scheme launched by A88 Trust, which is registered with the Securities and Exchange Board of India as a Category II Alternative Investment Fund.
The filing stated that the investment commitment of up to ₹250 crore will be made either directly or through its wholly-owned subsidiaries, including Smartweb Internet Services Ltd.
The primary objective of A88 Fund I is to generate long-term growth for its contributors while strengthening the Indian entrepreneurial ecosystem by investing in early-stage deep-tech companies operating in or focused on India.
Smartweb Internet Services Ltd, a wholly-owned subsidiary of Info Edge, will serve as both the sponsor and the investment manager of the fund.
Info Edge to Exit Shopkirana with Share Swap Arrangement
In a separate development, Info Edge also announced its exit from Shopkirana E Trading Pvt Ltd through a share-swap agreement with Singapore-based Trustroot Internet Pvt Ltd.As part of the agreement, Startup Investments (Holding) Limited, a wholly-owned subsidiary of Info Edge, will transfer its entire 26.14 percent stake in Shopkirana to Trustroot Internet. The transaction values the stake at USD 32.97 million.
In exchange, Trustroot Internet will issue 1,04,868 preference shares to Startup Investments (Holding) Limited, representing a 2.021 percent stake in the Singapore-based entity.
Additionally, the subsidiary will invest USD 1.72 million in Trustroot Internet to acquire 5,484 more preference shares as part of a primary capital infusion.
Both transactions are expected to be completed by June 30, 2026.
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