Info Edge(India) Ltd. — Capital/Financing Update 2023

Jan 24, 2023

Date: January 24, 2023

==> picture [228 x 85] intentionally omitted <==

1. The Manager- Listing National Stock Exchange of India Limited (Scrip Code: NAUKRI)

2. The Manager- Listing BSE Limited (Scrip Code: 532777)

Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam ,

This is to inform you that Startup Investments (Holding) Ltd. (“SIHL”), a wholly-owned subsidiary of the Company has agreed to invest about Rs.9.31 Crores in Agstack Technologies Private Limited.. The details of the transaction are given as under:

Sl.	Particulars	Details
No.
1.	Name of the target entity, details in brief such as size, turnover etc.	Agstack Technologies Private Limited (“Gramophone”) 1st Floor, Red Square, Opposite Orbit Mall, AB Road, Vijay Nagar, Indore (M.P.) 452010 Turnover(As on 31.03.2022): Rs. 181.1 Cr
2.	Whether the acquisition would fall within related party transaction(s) and whether the promoter/promoter group/group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”	Since Gramophone is an Associate company of the Company, it is a Related Party. Promoters of the Company have no interest in the said investment. The transaction is done at Arm’s Length basis.
3.	Industry to which the entity being acquired belongs	Gramophone is a full stack agritech platform for farmers. The company sells agri-inputs to farmers directly and via small retailers in an omnichannel model. It also provides advisory to farmers with respect to cropping/farming practices and helps them in selling their output to buyers.
4.	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity.	This follow on investment by the Company through SIHL is in furtherance of Company’s investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term.
5.	Brief details of any governmental or regulatory approvals required for the acquisition.	Not Applicable.
6.	Indicative time period for completion of acquisition	Immediate

==> picture [451 x 51] intentionally omitted <==

7.	Nature of Consideration- whether cash consideration or share swap and details of the same.		Cash Consideration
8.	Cost of acquisition or the price at which the shares are acquired.		About Rs. 9.31 Crores
9.	Percentage of shareholding/control acquired and/ or number of shares acquired.		SIHL has agreed to acquire 10,315 Compulsorily Convertible Cumulative Preference Shares having a face value of Rs. 10/- each as part of a larger round. The aggregate shareholding of the Company through SIHL, post this investment, in the said entity would be 32.89% on fullyconverted & diluted basis.
10.	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief).		Gramophone was incorporated on May 23, 2016 and is engaged in the business of retail of agricultural input, procurement of agricultural output and creation and maintenance of an advisory platform for farmers. Last threeyears turnover:(Rs. In crores) 2021-2022 2020-2021 2019-20 181.1 45.7 18.3
			2021-2022	2020-2021	2019-20
			181.1	45.7	18.3

This is for your information and records.

Thanking You.

Yours faithfully, For Info Edge (India) Ltd.

CHINTAN Digitally signed by CHINTAN ARVIND ARVIND THAKKAR Date: 2023.01.24 THAKKAR 10:19:05 +05'30'

Chintan Thakkar Whole-time Director & CFO

==> picture [451 x 51] intentionally omitted <==