Agritech Unnati acquires Gramophone; Info Edge to transfer stake, infuse Rs 35 crore
Agritech startup Unnati, founded by former Paytm chief financial officer Amit Sinha, is acquiring Info Edge-backed agritech platform Gramophone in a stock-swap deal.
In a stock exchange filing, Info Edge said it will transfer its 51% stake in Gramophone, for which it will receive 15.7% stake in Unnati.
Info Edge will invest Rs 35 crore in Unnati, taking its stake up to 20.5%. “This will dilute to 18.48% once all other shareholders of Gramophone also become shareholders of Unnati,” it said.
