Deals · Updated 28 Oct, 02:32 pm IST
Info Edge to sell stakes in MedCords and Unnati Online for about ₹5,000 each
Why it matters for readers: Explains why a large company might sell small stakes for a token amount after writing them off.
- Info Edge's board approved divestment of a 14.18% stake in MedCords and a 31.64% stake in Unnati Online held via its SIHL subsidiary.1
- Each stake will be sold for about ₹5,000 and the buyers are the startups' promoters and directors.1
- MedCords' stake will be sold to promoter-director Shreyans Mehta, while Unnati Online's stake will be bought by promoters Eral Ravi and Aashutosh Chaudhary.1
- Info Edge had fully impaired the MedCords investment in FY24 and the Unnati Online investment in FY20, so these sales formalise exits from previously written-down investments.1
- The company expects to sign sale agreements within 30 days and complete both transactions by January 27, 2027.1
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