Info Edge (India) Limited, through its wholly-owned subsidiary Startup Investments (Holding) Limited (SIHL), has agreed to transfer its entire stake in Agstack Technologies Private Limited ("Gramophone") to Akshamaala Solutions Private Limited ("Unnati"). SIHL currently holds 39.58% in Gramophone, which would increase to 50.94% on a fully converted and diluted basis before the transfer. The transfer involves 339,305 shares of Gramophone at ₹2,702.87 per share, aggregating to ₹91.71 crore. In exchange, Unnati will issue 49,145 preference shares to SIHL, representing 15.75% on a fully diluted basis, valued at ₹18,661 per share. Following this transaction, Gramophone will cease to be a subsidiary of SIHL. Additionally, SIHL proposes to invest approximately ₹35 crore in Unnati through a primary infusion, subscribing to 18,756 preference shares. This investment will bring SIHL's aggregate shareholding in Unnati to 20.53% on a fully converted and diluted basis, which is expected to dilute to 18.48% post-merger of Gramophone with Unnati. Until the merger is complete and SIHL holds over 20% in Unnati, Unnati will be classified as SIHL's Associate Company. The transfer and investment are subject to the completion of certain condition precedents outlined in definitive agreements. The board meeting where these approvals were granted commenced at 7:50 PM and concluded at 8:32 PM on January 3, 2026. Gramophone's contribution to Info Edge's turnover, revenue, income, and net worth for the financial year ending March 31, 2025, was 2.52%, 2.52%, 2.39%, and 0.03% respectively. Unnati, an agri-focused fintech platform, reported a turnover of ₹291.37 crore in FY25, with a net loss of ₹18.42 crore and a net worth of ₹65.8 crore.
