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Info Edge transfers entire 26% stake in Shopkirana to Udaan’s HEPL for $23 million
The transaction involves moving 60,673 shares, representing 26.14% of Shopkirana on a fully diluted basis, from Info Edge’s wholly owned subsidiary Startup Investments (Holding) Ltd (SIHL) to HEPL
Info Edge consolidated revenue from operations grew 15% to Rs 805.4 crore in Q2 FY26.
Info Edge, the parent company of Naukri.com, Jeevansathi.com, 99acres and Shiksha, on Friday announced that it has completed the transfer of its entire stake in its associate company Shopkirana to Hiveloop ECommerce Pvt Ltd (HEPL), a subsidiary of Trustroot Internet Pvt Ltd (TIPL), the parent entity of Udaan.
The transaction involves moving 60,673 shares, representing 26.14% of Shopkirana on a fully diluted basis, from Info Edge’s wholly owned subsidiary Startup Investments (Holding) Ltd (SIHL) to HEPL. In return, HEPL will issue 1,68,70,568 shares to SIHL, giving Info Edge a 0.91% stake in HEPL on a fully diluted basis.
These HEPL shares come with associated economic rights and are linked to 73,561 reference shares at the TIPL level, valued at $314.3863 per TIPL share, amounting to approximately $23.13 million, according to the definitive agreements.
Info Edge’s Board had initially approved the stake transfer on July 18, 2025.
Separately, the board reviewed the company’s previously announced investment plan in Startup Internet Services Ltd (SISL), a wholly owned subsidiary. In May 2025, the board had approved an investment of up to Rs 300 crore in one or more tranches.
Info Edge informed that it has already deployed Rs 120 crore in SISL based on drawdown requests from the Alternative Investment Fund (AIF). The remaining Rs 180 crore will be infused over time in multiple tranches depending on SISL’s funding requirements and in line with the objectives approved earlier.
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