Info Edge Commits Rs 250 Crore to Deep-Tech, Exits Shopkirana in Major Strategic Move
Info Edge (India) Ltd is investing Rs 250 crore in an alternative investment fund to support early-stage deep-tech Indian companies. It exits its associate company Shopkirana through a share-swap with Trustroot Internet Pvt Ltd, receiving a valued stake and additional shares.
- Country:
- India
In a strategic move to foster innovation in the tech sector, Info Edge (India) Ltd has pledged to invest up to Rs 250 crore in an alternative investment fund aimed at backing early-stage deep-tech companies across the country. The company made this announcement in a recent regulatory filing.
The investment is set to be channeled through A88 Fund I, a scheme under SEBI-registered A88 Trust. This fund aims to generate long-term growth and support the Indian entrepreneurial ecosystem. Info Edge's subsidiary, Smartweb Internet Services Ltd, is poised to manage the fund.
In another significant development, Info Edge announced its exit from Shopkirana E Trading Pvt Ltd. Through a share-swap agreement with Singapore-based Trustroot Internet Pvt Ltd (TIPL), Info Edge will transfer its 26.14% stake in Shopkirana to TIPL and secure a new stake in the Singaporean firm.
(With inputs from agencies.)
- READ MORE ON:
- Info Edge
- investment
- deep-tech
- Shopkirana
- early-stage
- SEBI
- A88 Fund
- TechnoFund
- Share-swap
- Singapore
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