Info Edge’s Board of Directors approved two major strategic actions on March 27, 2026. First, committing up to Rs. 250 crore to A88 Fund I, an Alternative Investment Fund, via its subsidiary Smartweb. Second, transferring its entire 26.14% stake in Shopkirana E Trading Private Limited to Trustroot Internet Private Limited (TIPL) for approximately USD 32.97 million in consideration, alongside a new investment in TIPL.
Key Decisions from the Board Meeting
At the Board meeting held on March 27, 2026, Info Edge (India) Limited approved key strategic transactions, primarily focused on managing external financial investments and streamlining associate holdings. The Board considered and approved the following two major items:
1. Contribution Agreement with A88 Fund I
The company has agreed to commit an aggregate contribution of up to Rs. 250 crore in A88 Fund I, a scheme launched by A88 Trust (a Category II AIF). This commitment will be made directly or through wholly owned subsidiaries, including Smartweb Internet Services Limited, which will act as the sponsor and investment manager. This investment is intended to generate long-term growth by supporting Indian entrepreneurial deep tech companies. Since the A88 Trust was launched in FY26, turnover and profit data for prior years (2022-23 to 2024-25) is listed as NA. The transaction is being conducted on an Arm’s Length basis.
2. Transfer of Shopkirana Stake to TIPL
Following prior intimation, the Board approved the transfer of the entire shareholding held by its subsidiary, Startup Investments (Holding) Limited (SIHL), in its Associate Company, Shopkirana E Trading Private Limited (“Shopkirana”), to Trustroot Internet Private Limited (“TIPL”).
Transfer Details and Consideration
- Shares Transferred: SIHL will transfer 60,673 shares, aggregating to 26.14% stake in Shopkirana (on fully converted and diluted basis).
- Consideration: The aggregate consideration is USD 32,970,499.20.
- TIPL Allotment: In exchange, TIPL will issue and allot 1,04,868 preference shares to SIHL, aggregating to 2.021% stake in TIPL, valued at USD 314.40 per share. This forms the full and final settlement for the share transfer.
For context, Shopkirana’s audited figures for the year ended March 31, 2025, showed Total Income of Rs. 471.26 crores and Turnover of Rs. 469.33 crores. Upon closing, Shopkirana will cease to be an Associate Company of SIHL.
Additional Investment in TIPL
In addition to the share swap, SIHL is also proposing a primary infusion investment of approximately USD 1,724,169.60 into TIPL for the subscription of 5,484 preference shares, representing approximately 0.105% of TIPL. Following both the transfer and this new investment, SIHL’s aggregate shareholding in TIPL will settle at 2.126% (fully converted and diluted basis).
TIPL, incorporated in Singapore in November 2017, primarily functions as an investment holding company involved in developing and commercializing software and SaaS solutions. Its revenue from contracts with customers for the year ended March 31, 2025, was Rs. 4,561.4 crores.
Transaction Timelines
The agreement for the Shopkirana transfer is expected to be executed within one month of the Board’s approval. The closing of both the transfer and the TIPL subscription is subject to conditions precedent and is expected to be completed by June 30, 2026.
Source: BSE
