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Unnati Acquires Gramophone in Agritech Merger
4 Jan
Summary
- Unnati acquires Gramophone in a stock-swap deal.
- Info Edge transfers its 51% stake in Gramophone to Unnati.
- Info Edge will invest Rs 35 crore in Unnati, increasing stake.
Agritech startup Unnati has announced its acquisition of Gramophone in a significant stock-swap transaction. Info Edge, an existing investor in Gramophone, will transfer its 51% ownership to Unnati. In return, Info Edge will receive a 15.7% stake in Unnati, signaling a major shift in ownership within the agritech landscape.
Further strengthening the partnership, Info Edge has committed an additional Rs 35 crore investment in Unnati. This infusion will raise Info Edge's total stake to 20.5%, with an anticipated dilution to 18.48% upon the integration of other Gramophone shareholders. Gramophone, which distributes farm inputs, reported revenues of Rs 67 crore in FY25.
Unnati, founded in 2010, operates as a fintech platform for financing and distributing agricultural inputs. The company reported revenues of Rs 291 crore in FY25, alongside a loss of Rs 18 crore. This acquisition is anticipated to finalize within 90 days, marking a pivotal moment for both Unnati and Gramophone.
