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 initiated by A88 Trust, a trust registered with the Securities and Exchange Board of India as a Category II Alternative Investment Fund… to commit contributions of up to Rs. 250 crore through aggregate, direct and/or wholly owned subsidiaries, through SmartRegulatory Services incorporated by Internet Fina Limited.
The objectives of the scheme (A88 Fund I) will be to generate long-term growth for contributors and support the Indian entrepreneurial ecosystem by investing in early-stage deep tech companies in India (or primarily focused in India).
Smartweb Internet Services Ltd, a wholly owned subsidiary of Info Edge, will act as sponsor and investment manager for the fund.
In a separate key decision, the company said it is exiting its associate Shopkirana E Trading Pvt Ltd through a share-swap agreement with Singapore-based Trustroot Internet Pvt Ltd (TIPL).
Under the agreement, Startup Investments (Holding) Limited (SIHL), a wholly-owned subsidiary of InfoAge, 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 into a 2.021 per cent stake in the Singapore firm.
Along with the share swap, SIHL will also make an initial capital investment of USD 1.72 million in TIPL to subscribe for an additional 5,484 preference shares.
Both transactions with TIPL are expected to be completed by June 30, 2026.
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