Info Edge’s subsidiary, SIHL, completed the transfer of its entire 50.94% stake in Agstack Technologies (Gramophone) to Akshamaala Solutions (Unnati). Concurrently, SIHL invested approximately ₹35 Crore into Unnati via primary infusion. This transaction establishes SIHL’s holding in Unnati at 20.53% (fully diluted), qualifying Unnati as an Associate Company until the merger finalizes and potentially diluting SIHL’s stake to 18.48%.
Completion of Major Subsidiary Transaction
Info Edge (India) Limited provided an update regarding the transactions approved earlier by its Board of Directors. The company’s wholly-owned subsidiary, Startup Investments (Holding) Limited (SIHL), has finalized the transfer of its entire shareholding in Agstack Technologies Private Limited (“Gramophone”) to Akshamaala Solutions Private Limited (“Unnati”). The transaction date for this corporate event was February 19, 2026, occurring at 12:53 p.m. (IST).
Transaction Valuation and Consideration
SIHL transferred shares aggregating to 50.94% in Gramophone (on a fully converted and diluted basis) to Unnati. The valuation for this transfer was set at INR 2,702.87/- per share, resulting in an aggregate value of INR 91,70,97,305.35 (over ₹91.70 Crore). In full and final settlement, Unnati issued 49,145 preference shares to SIHL, representing 15.75% of Unnati on a fully diluted basis, valued at INR 18,661/- per share.
Additional Primary Investment in Unnati
In addition to the share transfer consideration, SIHL further invested approximately ₹35 Crore in Unnati through a primary infusion. This involved subscribing to an aggregate of 18,756 preference shares issued and allotted by Unnati to SIHL.
Resulting Shareholding and Associate Status
Following these combined transactions, SIHL’s aggregate shareholding in Unnati stands at 20.53% (which includes ESOP and MSOP Pool allocations). The announcement clarified that upon the completion of the merger between Gramophone and Unnati, and subsequent actions by other Gramophone shareholders, SIHL’s eventual stake in Unnati is expected to dilute to 18.48%. Until the merger is finalized and provided SIHL continues to hold more than 20% of Unnati, Unnati will qualify as SIHL’s Associate Company.
Source: BSE
