According to a regulatory filing, the company has entered into a contribution agreement with A88 Fund I, a scheme by SEBI-registered A88 Trust.
“Entering into a contribution agreement with A88 Fund I, a scheme launched by A88 Trust, a Trust registered with the Securities and Exchange Board of India as a Category II Alternative Investment Fund … to commit a contribution of up to Rs 250 crore in aggregate, directly and/or through wholly-owned subsidiaries, including by Smartweb Internet Services Ltd,” the Info Edge regulatory filing said.
The objectives of the Scheme (A88 Fund I) will be to generate long-term growth for the contributors and support the Indian entrepreneurial ecosystem by investing in early-stage deep tech companies in India (or primarily focused in India)
Info Edge’s wholly-owned subsidiary, Smartweb Internet Services Ltd, will act as the sponsor and investment manager for the fund.
In a separate major decision, the company said it is exiting its associate company Shopkirana E Trading Pvt Ltd through a share-swap agreement with Singapore-based Trustroot Internet Pvt Ltd (TIPL).
Under the agreement, Info Edge’s wholly-owned subsidiary, Startup Investments (Holding) Limited (SIHL), will transfer its entire 26.14 per cent stake in Shopkirana to TIPL. The stake transfer is valued at USD 32.97 million. In full settlement of this transfer, TIPL will issue 1,04,868 preference shares to SIHL, which translates to a 2.021 per cent stake in the Singaporean firm.
Alongside the share swap, SIHL will also make a primary capital infusion of USD 1.72 million into TIPL to subscribe to an additional 5,484 preference shares.
Both transactions with TIPL are expected to be completed by June 30, 2026.
