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Info Edge To Exit MedCords, Unnati Online For About ₹5,000 Each

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Info Edge To Exit MedCords, Unnati Online For About ₹5,000 Each

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.


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