Tech
Udaan acquires ShopKirana to boost FMCG play, ropes in Info Edge as shareholder
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Business-to-business (B2B) grocery delivery platform Udaan said on Friday that it agreed to acquire 100% stake in retail tech startup ShopKirana in an all-stock deal.
A press release from Udaan did not provide details like the share swap ratio or ShopKirana’s valuation.
Separately, InfoEdge, which held 26.14% in ShopKirana, said in a stock exchange filing that it will transfer the entire holding to Udaan for a 1.48% stake, valued at $23.13 million, in the B2B company in return. This gives ShopKirana a valuation of $88.5 million.
Following the…
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