Info Edge India Ltd to invest in Univariety

Info Edge India Ltd has entered into an agreement to invest, through its wholly-owned subsidiary, about Rs. 10 Cr. in one or more tranches in International Educational Gateway Private Limited ('Univariety').

Univariety is a technology driven career guidance & alumni management platform for schools. It provides counseling products and services to students, schools, colleges and educators. These enable students and parents take better informed decisions on higher education and related products and services. The products and services are provided through physical connects, an on line portal named as www.univariety.com and through third party portals of partner entities.

The Company has agreed to acquire 9,471 Series A2 Compulsory Convertible Preference Shares having a face value of Rs. 100/- each. The aggregate shareholding of the Company, post this investment, in the said entity would be 47.12% on a fully converted & diluted basis.

As part of company's strategic investments, the investment would help the Company to consolidate its presence into the aforesaid line of business.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 6077.45 as compared to the previous close of Rs. 6490.65. The total number of shares traded during the day was 37055 in over 10361 trades.

The stock hit an intraday high of Rs. 6550.25 and intraday low of 5961.40. The net turnover during the day was Rs. 226865623.00.

Source : Equity Bulls

Keywords

InfoEdgeIndiaLimited INE663F01024 NAUKRI Investment Univariety CareerGuidance AlumniManagement Schools