India, Nov. 10 -- Info Edge will offload about 3.8 Cr shares of Meritto (formerly NoPaperForms) via the offer-for sale component (OFS) of the edtech SaaS company's IPO.

In an exchange filing, Info Edge said its wholly owned subsidiary Startup Investments Holding Limited (SIHL) has approved the divestment via the OFS route. Following the public issues, SIHL's stake in Meritto will reduce to below 25%.

Notably, Meritto pre-filed its DRHP with SEBI on November 6. According to its public announcement, the IPO will include a fresh issue as well as an OFS. Info Edge might look at "pre-IPO secondary sale or sale of equity shares prior to the filing of the red herring prospectus (RHP)", the company said in the filing.

The company is reportedly...