As per a regulatory filing, the company has formed a contribution agreement with A88 Fund I, a scheme managed by SEBI-registered A88 Trust.
“By entering into a contribution agreement with A88 Fund I, a scheme initiated by A88 Trust, which is recognized by the Securities and Exchange Board of India as a Category II Alternative Investment Fund … to allocate a contribution of up to Rs 250 crore in total, either directly or through wholly-owned subsidiaries, including Smartweb Internet Services Ltd,” according to the regulatory filing from Info Edge.
The primary goals of the Scheme (A88 Fund I) will include generating sustainable growth for contributors and fostering the Indian entrepreneurial ecosystem by investing in early-stage deep tech companies in India (or primarily focused on India). Info Edge’s wholly-owned subsidiary, Smartweb Internet Services Ltd, will serve as the sponsor and investment manager for the fund.
In another significant move, the company announced its exit from its associate company Shopkirana E Trading Pvt Ltd through a share-swap agreement with Singapore-based Trustroot Internet Pvt Ltd (TIPL).
Under this agreement, Info Edge’s wholly-owned subsidiary, Startup Investments (Holding) Limited (SIHL), will transfer its entire 26.14% stake in Shopkirana to TIPL. This stake transfer is valued at $32.97 million.
To fully settle this transfer, TIPL will issue 1,04,868 preference shares to SIHL, which equates to a 2.021 percent stake in the Singaporean company.
In addition to the share swap, SIHL will also inject $1.72 million in primary capital into TIPL for acquiring an additional 5,484 preference shares.
Both transactions with TIPL are anticipated to be finalized by June 30, 2026.
