Info Edge India Ltd to invest Rs. 135.4 crores in CodingNinjas

The Board of Directors of Info Edge India Ltd has approved the investment by the Company of approximately INR 135.4 Crores via a mix of primary and secondary purchase of shares in Sunrise Mentors Private Limited by acquisition of 22,836 Compulsorily Convertible Preference Shares ("CCPS") of face value INR 10 each and 27,089 Equity Shares of face value INR 10 each ("Investment"). Pursuant to the approval of the Board, the Company has finalized and executed the relevant agreements for the Investment. The Investment is subject to fulfilment of certain customary conditions precedent and other terms and conditions agreed under the relevant agreements.

CodingNinjas is engaged in the business of education and operation of an e-learning platform - codingninjas.com

This investment would help the Company to explore and maximize business synergies between the two platforms - Naukri and CodingNinjas.

Source : Equity Bulls

Keywords

InfoEdgeIndia Investment SunriseMentors CodingNinjas