Info Edge India Ltd invests Rs. 18 crore in 4B Networks Pvt Ltd

Info Edge (India) Ltd has invested an amount of about Rs.18 Cr., through its wholly-owned subsidiary, in 4B Networks Private Limited.

4B is engaged in the business of enabling real estate developers and brokers to communicate with each other and conduct their business via the Broker Network Platform. It helps Brokers conduct site visits and provide home loan related services to their clients.

The Company has acquired 5,059 Compulsory Convertible Preference Shares (CCPS). The aggregate shareholding of the Company, post this investment, in the said entity would be 49.82% on a fully converted and diluted basis.

As part of Company's strategic investments, the investment would help the Company to strengthen its offering in the real estate segment by providing a new platform to real estate industry professionals to conduct their business efficiently.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 5882.40 as compared to the previous close of Rs. 5949.80. The total number of shares traded during the day was 9540 in over 2922 trades.

The stock hit an intraday high of Rs. 5988.80 and intraday low of 5848.00. The net turnover during the day was Rs. 56124957.00.

Source : Equity Bulls

Keywords

InfoEdgeIndiaLimited INE663F01024 NAUKRI Investment 4BNetworks CCPS