Info Edge subsidiary exits Shopkirana, picks up stake in TIPL instead
NAUKRI · price
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Info Edge's wholly-owned subsidiary SIHL has completed the transfer of its entire 26.14% stake in Shopkirana to Trustroot Internet (TIPL) for about USD 32.97 million. In return, SIHL received 1,04,868 preference shares of TIPL, about 2.021% on a fully diluted basis. SIHL also separately invested about USD 1.72 million in TIPL by way of primary infusion, getting another 5,484 preference shares (0.105%). With this, Shopkirana ceases to be an associate company of SIHL. This is a portfolio reshuffle within Info Edge's startup investments.
Portfolio-level reshuffle. Shopkirana exits associate list; SIHL now holds about 2.13% in TIPL. No material impact on Naukri core business expected.