Stake sale · Agriculture & Food Systems

Info Edge sells Gramophone stake to Unnati

By Startup Enthusiast · 5 January 2026

What they do

Info Edge is an online classifieds and recruitment company

Its subsidiary SIHL sold its 50.94% stake in Gramophone to Unnati for ₹91.71 crore via a share swap and primary investment

The deal combines Unnati's B2B distribution and credit network with Gramophone's tech-driven agri advisory and commerce

Info Edge's subsidiary SIHL transferred its entire stake in Gramophone to Unnati through a share swap and primary investment.
The board approved the transaction on 3 January 2026.
SIHL sold 339,305 Gramophone shares (50.94% fully diluted) to Unnati at ₹2,702.87 per share, for a total consideration of ₹91.71 crore.
Unnati issued 49,145 preference shares to SIHL at ₹18,661 per share, giving SIHL a 15.75% stake in Unnati.
SIHL also put in ₹35 crore of new money into Unnati by buying 18,756 preference shares.
After the primary infusion, SIHL holds 20.53% in Unnati, expected to dilute to 18.48% after other Gramophone shareholders receive Unnati shares.
The transaction is expected to close within 90 days from signing, extendable by mutual consent, and is subject to definitive agreements.

The deal joins Unnati's B2B distribution and credit network with Gramophone's tech-driven advisory and commerce capabilities.
This is one of the bigger consolidation moves in India's digital agriculture sector in recent years.
Gramophone's FY25 turnover fell 32.5% to ₹66.89 crore from ₹99 crore in FY24.
Unnati's FY24 revenue was ₹515 crore (up 30% from ₹397 crore in FY23), but its loss grew to ₹469 crore (up 27% from ₹370 crore in FY23).

Info Edge is an online classifieds and recruitment platform.
Gramophone is a farmer-facing advisory and commerce platform that sells seeds, fertilisers, nutrients, pesticides, and farming equipment via an omnichannel model.
Unnati is a fintech-led digital agribusiness platform offering B2B agri-input distribution, aggregation, and financing, with a digital platform for retailers to sell agri inputs to farmers.
Gramophone's FY25 turnover was ₹66.89 crore, income ₹71.05 crore, and net worth ₹8.10 crore.
Unnati's FY25 turnover was ₹291.37 crore, loss ₹18.42 crore, and net worth ₹65.8 crore.

The deal aims to join Unnati's B2B distribution and credit network with Gramophone's tech-driven advisory and commerce capabilities.
The transaction is expected to close within 90 days from signing, extendable by mutual consent.
No governmental or regulatory approvals are required.

Info Edge (India) Ltd (seller) — Online classifieds and recruitment company; parent of SIHL.
Unnati (buyer) — Fintech-led digital agribusiness platform founded by former Paytm CFO Amit Sinha.
Gramophone (target) — Farmer-facing advisory and commerce platform; previously raised over $22 million from Z3Partners, Asha Impact, Chona Family Office, among others.