Info Edge India Ltd to acquire Zwayam for Rs. 61 crores

The Board of Directors of Info Edge India Ltd at its meeting held on June 11, 2021, has approved the acquisition of 100% of the Share Capital on a fully diluted basis of Zwayam Digital Pvt. Ltd. for an aggregate cash consideration of about Rs.61 Crores. The transaction is subject to fulfilment of certain prescribed conditions precedent and other terms and conditions as per Share Purchase Agreement authorised to be signed by the Board.

Zwayam is engaged in the business of providing SaaS based sourcing and screening recruitment solutions and providing end-to-end recruitment solutions with configurable plug and play modules.

The proposed acquisition would help the Company to further consolidate its position in the online recruitment solutions segment where its flagship brand Naukri.com already has an established leadership position.

Shares of INFO EDGE (INDIA) LTD. was last trading in BSE at Rs.4679 as compared to the previous close of Rs. 4732.45. The total number of shares traded during the day was 11203 in over 1538 trades.

The stock hit an intraday high of Rs. 4750 and intraday low of 4662.25. The net turnover during the day was Rs. 52722190.

Source : Equity Bulls

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