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Business Standard
18-07-2025
- Business
- Business Standard
Board of Info Edge (India) approves transfer of stake in Shopkirana to HEPL
At board meeting held on 18 July 2025 The Board of Info Edge (India) at its meeting held on 18 July 2025 has agreed to enter into an agreement to transfer entire shareholding of the Company held through Startup Investments (Holding) (SIHL), a wholly owned subsidiary, in its Associate Company, namely Shopkirana (i.e. 60,673 shares aggregating to 26.14 % on fully converted and diluted basis) to HEPL, a subsidiary of Trustroot Internet (TIPL) -Udaan, a company registered under the laws of Singapore. In consideration HEPL shall issue and allot to SIHL 1,68,70,568 shares of HEPL aggregating to about 0.91% on fully converted and diluted basis, together with all benefits and economic rights of such HEPL shares as issued to SIHL being linked to 73,561 reference shares representing the notional reference shareholding of SIHL at TIPL level (valued at USD 314.3863 per TIPL share aggregating to about USD 23.13 Million), as mentioned in the definitive agreements. Such transfer is subject to completion of various conditions precedent as mentioned in the agreements. Pursuant to the execution of the definitive agreements for the above transaction and from the date of closing of the transaction, Shopkirana will cease to be an Associate Company of SIHL, and SIHL will hold about 0.91% stake in HEPL on fully converted and diluted basis (with notional reference shareholding of SIHL at TIPL level to about 1.48%). The aforesaid transfer of shares held in Shopkirana to HEPL will be undertaken in accordance with the terms of definitive agreements (including completion of various conditions precedent).
Business Upturn
18-07-2025
- Business
- Business Upturn
Info Edge to sell Shopkirana stake to Hiveloop E-Commerce for USD 23.13 million
Info Edge has announced that its board has approved a deal to transfer its entire 26.14% stake in Shopkirana E-Trading Private Limited—held through its wholly owned subsidiary, Startup Investments (Holding) Limited (SIHL)—to Hiveloop ECommerce Private Limited (HEPL), an Indian subsidiary of Udaan (Trustroot Internet Pvt Ltd). As part of the agreement, SIHL will receive 1,68,70,568 shares in HEPL, which equates to a 0.91% stake on a fully diluted basis. These shares will carry economic rights linked to 73,561 reference shares in TIPL (Udaan's Singapore parent), reflecting a notional value of around USD 23.13 million and an effective reference stake of about 1.48% at the TIPL level. The transfer will take place once various conditions precedent, as outlined in the definitive agreements, are met. Completion is expected by October 31, 2025, unless mutually extended. Following the transaction, Shopkirana will cease to be an associate company of Info Edge. Shopkirana contributed ₹471 crore in income (15.88% of Info Edge's total standalone revenue) and ₹23 crore in net worth (0.34%) in FY25. The buyer, HEPL, is not related to Info Edge's promoter group, and the transaction does not qualify as a related party transaction. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
