Info Edge India Ltd invests Rs. 15 crores in Smartweb

Info Edge (India) Ltd has invested an amount of Rs.15 Crores in Smartweb Internet Services Ltd., wholly owned subsidiary of the Company.

The Company already holds 100% stake in Smartweb on a fully converted and diluted basis. Accordingly, it is a wholly owned subsidiary of the Company in accordance with the Companies Act, 2013 and hence falls in the category of a related party as on the date of making this investment.

Smartweb was incorporated on September 23, 2015 and is engaged in the business of providing all kinds of internet services and to act as investment advisor, financial consultant, management consultant, investment manager and/or sponsor of alternative investment fund(s).

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 4129.95 as compared to the previous close of Rs. 4128.90. The total number of shares traded during the day was 13714 in over 2414 trades.

The stock hit an intraday high of Rs. 4213.00 and intraday low of 4112.50. The net turnover during the day was Rs. 56909193.00.

Source : Equity Bulls

Keywords

InfoEdgeIndia INE663F01024 Invetment SmartwebInternetServices