Info Edge to divest stakes in MedCords and Unnati Online for nominal value

Info Edge has received board approval to divest its 14.18% stake in MedCords Healthcare Solutions and its 31.64% stake in employment platform Unnati Online. The company will sell these holdings for approximately ₹5,000 per entity, a figure reflecting the nominal value of assets that had already been fully written off in the company's financial statements.

The stake in MedCords will be acquired by director Shreyans Mehta, while the holding in Unnati Online will be purchased by directors Eral Ravi and Aashutosh Chaudhary. The company expects to finalize these agreements within the coming weeks and complete the transfers by January 2027.

Info Edge previously invested approximately ₹110 million into these startups starting in 2020. However, the company recorded full impairment provisions for both MedCords and Unnati Online in subsequent fiscal years, signaling that the investments failed to meet growth expectations. These transactions effectively clean up the parent company’s investment portfolio.

Simultaneously, the board authorized an infusion of up to ₹1.5 billion into Redstart Labs, the company’s deeptech-focused investment arm. This funding is intended to support working capital requirements and facilitate future investment opportunities within the deeptech sector.