• Gramophone merges with Unnati Agri through a share swap deal.
• Info Edge to hold just over 20percent stake post-merger.
• Deal combines farmer advisory and B2B agri distribution platforms.

Info Edge (India) Ltd has officially confirmed the merger between its agritech company Gramophone and Unnati Agri, following earlier reports on the consolidation in India’s digital agri-input sector.

In a stock exchange filing, Info Edge said its subsidiary Startup Investments (Holding) Ltd (SIHL) will transfer its entire stake in Agstack Technologies (Gramophone) to Akshamaala Solutions (Unnati) as part of a share swap arrangement. The merger is structured as a consolidation rather than a cash acquisition.

Under the deal, SIHL will transfer 339,305 shares, representing a 50.94 percent stake in Gramophone, to Unnati at a valuation of Rs 2,702.87 per share, totaling Rs 91.7 crore. In return, Unnati will issue 49,145 preference shares to SIHL, giving it a 15.75 percent stake on a fully diluted basis. Additionally, Info Edge will invest Rs 35 crore directly in Unnati, raising its overall stake to 20.53 percent, which is expected to settle at 18.48 percent after Gramophone shareholders receive Unnati shares.

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The merger aims to bring together Unnati’s B2B agri-input distribution and financing network with Gramophone’s farmer-facing advisory and commerce platform. This is considered one of the largest consolidation moves in India’s agritech space in recent years. Unnati reported Rs 291 crore in revenue for FY25, with a loss of Rs 18.4 crore. The transaction is expected to close within 90 days, subject to final agreements and customary approvals.