The stake sale will be done via mix of cash and swap of shares, for approximately Rs 61 crore.

The company said that the stake sale is expected to be completed within two months from signing unless mutually extended by the parties.

Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.

The company reported consolidated net loss of Rs 272.83 crore in Q4 FY23 as compared with net profit of Rs 628.89 crore in Q4 FY22. Revenue from operations jumped 27.9% year on year to Rs 604.78crore in Q4 FY23.

Shares of Info Edge (India) rose 1.46% to Rs 4,200.70 on the BSE.