Info Edge Divests Medcords, Unnati Online; Invests ₹150 Cr in Redstart

Info Edge (India) Ltd announced a significant strategic move through its Board of Directors' approval for the divestment of its entire holdings in Medcords Healthcare Solutions Private Limited (14.18%) and Unnati Online Private Limited (31.64%). These divestments, executed via its wholly-owned subsidiary Startup Investments (Holding) Limited, will result in Medcords ceasing to be a Joint Venture and Unnati Online no longer being an Associate Company. Notably, provisions for the full impairment of these investments were already booked in FY 2023-24 and FY 2019-20, respectively. Concurrently, the company approved an investment of approximately ₹150 crores in its wholly-owned subsidiary, Redstart Labs (India) Limited. The Board also approved the reconstitution of the Audit Committee, inducting Mr. Naresh Chand Gupta as a member.