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.
