Info Edge India Ltd to invest Rs. 30 crore in GreytHR

Info Edge India Ltd has entered into an agreement to invest about Rs. 30 Cr. in Greytip Software Private Limited (GreytHR).

Greytip Software is a HR and Payroll SaaS company focused on serving SME customers in India and abroad. Its software solutions cover all areas, including employee information management, leave and attendance management, payroll, expense claims, and more. It helps companies in streamlining HR operations and enhancing employee experience, thereby increasing productivity.

This investment would help the Company create financial value as well as increase its presence in a business adjacent to one of its core operating businesses.

Greytip was incorporated on November 29, 1994. In its earlier avatar, it was an Enterprise HR Tech company serving the needs of large businesses with its on-premise solutions. In 2011, it shifted gears and started focusing on SMB SaaS solutions. With deployments at more than 13,500 customers spread across 150 cities in India, Middle East and South East Asia, GreytHR now has the capability to implement and process payroll in more than 20 countries. At its current scale, more than 1.4 mn payslips are generated on the platform every month. Today Greytip is one of the largest SMB SaaS players in the HR tech space and is also growing its presence in mid & large enterprises.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 5998.85 as compared to the previous close of Rs. 6077.45. The total number of shares traded during the day was 29685 in over 8439 trades.

The stock hit an intraday high of Rs. 6060.00 and intraday low of 5839.55. The net turnover during the day was Rs. 176184400.00.

Source : Equity Bulls

Keywords

InfoEdgeIndiaLimited INE663F01024 NAUKRI GreytHR Investment