loading
loading
Info Edge approved the sale of its entire 14.18% stake in MedCords and 31.64% stake in Unnati Online for about ₹5,000 each. Both investments were already fully impaired — MedCords in FY24 and Unnati Online in FY20. The stakes will be sold to the startups’ respective promoters, with both transactions expected to close by January 27, 2027. Naukri parent Info Edge has approved the sale of its entire stakes in healthtech startup MedCords and employment platform Unnati Online for about ₹5,000 each, marking its proposed exit from two investments it had already fully impaired. Info Edge’s board approved the divestment of its 14.18% stake in MedCords Healthcare Solutions and 31.64% stake in Unnati Online, both held by its wholly owned subsidiary Startup Investments (Holding) Limited (SIHL). MedCords stake will be sold to the startup’s promoter and director Shreyans Mehta. Meanwhile, Unnati Online’s promoters and directors Eral Ravi and Aashutosh Chaudhary will acquire Info Edge’s holding in the employment platform. The company expects to enter into the sale agreements within 30 days and complete both transactions by January 27, 2027. Info Edge had booked provisions for full impairment of its MedCords investment in FY24 and its Unnati Online investment in FY20. The proposed sales would therefore formalise its exits from investments already fully provided for. Following completion, MedCords will cease to be a joint venture of Info Edge, while Unnati Online will cease to be an associate company. The Unnati stake is calculated on a fully converted and diluted basis, excluding the ESOP pool. Founded by Nikhil Baheti, Saida Dhanavath and Shreyans Mehta, MedCords built a healthcare platform connecting patients, doctors and neighbourhood pharmacies. As Inc42 reported in 2020, the startup expanded from digitising medical records and facilitating teleconsultations into a hyperlocal healthcare marketplace, using its Sehat Sathi app to bring local pharmacies online. Info Edge had agreed to invest ₹7 Cr in MedCords in March 2020, taking its proposed aggregate shareholding to 16.89% on a fully converted and diluted basis at the time. Meanwhile, Unnati Online operated Unnati Helpers, a platform connecting informal sector workers with employers. Founded by Shantanu Singh, Eral Ravi and Aashutosh Chaudhary, the Gurugram-based startup catered to hiring needs across households and businesses, including drivers, domestic workers, delivery personnel and factory workers. Info Edge invested ₹4 Cr in Unnati via convertible preference shares to acquire about 28.5% of the company on a fully converted and diluted basis. Alongside the proposed exits, Info Edge’s board approved an investment of up to ₹150 Cr in its wholly owned subsidiary Redstart Labs through an equity subscription. The infusion will take place in one or more tranches within 18 months of approval. Info Edge said the money would support Redstart’s working capital requirements, investment opportunities and other general purposes. Redstart, which is Info Edge’s deeptech focused investment arm, reported a loss after tax of ₹2.99 Cr in FY26 and net worth of ₹76.93 C, with nil turnover. Besides the aforementioned developments, Info Edge also announced a major leadership rejig today with CEO Hitesh Oberoi departing from his operational role and founder Sanjeev Bikhchandani taking extending his role to include CEO, MD and executive director of the company effective December 3. On the financial front, Info Edge also announced an 87% jump in its Q2 FY27 net profit to ₹649.8 Cr. While the company’s top line only increased by 12.2% YoY to ₹903.9 Cr, its other income almost tripled YoY to ₹428.4 Cr.
document fetched 2026-10-29 03:04 · canonical https://inc42.com/buzz/info-edge-to-exit-medcords-unnati-online-for-about-%e2%82%b95000-each