Info Edge India Ltd to invest in Juno

Info Edge (India) Ltd has entered into an agreement to acquire securities in Juno Learning Pvt. Ltd. ("Juno") for an amount of about Rs.11.25 Cr.

Juno is engaged in the business, which is an interactive, online school that teaches sales techniques, processes, and tools to students and entry-level professionals in an experiential manner, to enhance employability.

As part of the Company's strategy, the investment would help the Company create and consolidate its presence into a niche vertical of "Sales upskilling". It perfectly fits into the Company's playbook to invest in adjacencies to recruitment and education verticals and create synergies with its existing businesses.

The Company has agreed to acquire 4,331 Compulsorily Convertible Preference Shares having face value of Rs. 10/- each as Primary acquisition of shares. The aggregate shareholding of the Company, post this investment, in the said entity would be 25% on a fully converted & diluted basis.

Founded by Tarun Matta, Juno is building an interactive online school that teaches sales techniques, processes, and tools to entry-level professionals and students in an experiential manner, to enhance employability.

Tarun Matta, has successfully built platforms like iimjobs.com and hirist.com (online recruitment platforms in Management and Engineering space) as an entrepreneur and later for Infoedge post its acquisition.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 4678.70 as compared to the previous close of Rs. 4511.60. The total number of shares traded during the day was 30942 in over 6488 trades.

The stock hit an intraday high of Rs. 4699.95 and intraday low of 4505.35. The net turnover during the day was Rs. 142858447.00.

Source : Equity Bulls

Keywords

InfoEdgeIndia INE663F01024 JunoLearning StakeAcquisition TarunMatta