Indian job board Info Edge is selling Happily Unmarried (Ustraa), a lifestyle brand which sells grooming products, to VLCC Health Care Limited, a provider of beauty and wellness services also based in India.

Info Edge agreed to sell its entire shareholding in Happily Unmarried, held through its wholly owned subsidiary, Startup Investments Limited, to VLCC via a mix of cash and other than cash consideration (swap of shares).

According to a filing in BSE, the consideration received from the sale is approximately INR 610 million (USD 7.4 million)

The sale agreement date is 8 June 2023, and the deal is expected to be complete in two months from the signing date unless mutually extended by the parties.

Happily Unmarried is backed by investors, including 360 One (formerly IIFL Ventures) and Wipro. As a result of the acquisition, the group's current investors will become stakeholders of VLCC.

In a joint statement, Rahul Anand and Rajat Tuli, Founders of Ustraa said, "VLCC represents a perfect strategic partner to help us broaden our customer reach, especially in offline retail. VLCC's strong management, well supported by (investment firm) Carlyle globally, brings the resources and sector expertise that can enable us to significantly grow our brand further and expand the range of products."

Sanjeev Bikhchandani of InfoEdge told LiveMint, "At InfoEdge, we have built leading consumer businesses like Naukri and 99acres and have invested in companies like Zomato and Policybazaar, where we have been part of their scale-up journey since inception. We are bullish about the synergies that can be realised in this VLCC-Ustraa merger for the platform to become a leading consumer business in the beauty and personal care space and look forward to working closely with the management team and Carlyle post-merger. VLCC's focused strategy to scale up their products business using digital channels and high-quality product innovation is in sync with Ustraa's founding principles."