Info Edge India Ltd arm to invest in Sploot Pvt Ltd

Redstart Labs (India) Ltd. ("Redstart"), a wholly-owned subsidiary of Info Edge (India) Ltd has agreed to invest about Rs.5.2 Crores in Sploot Private Limited.

Sploot is engaged in the business of providing products and services to pet parents with respect to the pet's health, behaviour and nutrition through content and app-based help. This includes organization of pet's medical records, everyday tasks and access to professionals and services.

This follow on investment by the Company through Redstart is in furtherance of Company's investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term.

Redstart has agreed to acquire 1,822-Compulsorily Convertible Preference Shares as primary acquisition of shares. The aggregate shareholding of the Company through Redstart, post this investment, in the said entity would be 24.13% on fully converted & diluted basis.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 3514.45 as compared to the previous close of Rs. 3502.95. The total number of shares traded during the day was 3246 in over 627 trades.

The stock hit an intraday high of Rs. 3559.35 and intraday low of 3495.00. The net turnover during the day was Rs. 11423377.00.

Source : Equity Bulls

Keywords

InfoEdgeIndia INE663F01024 RedstartLabsIndia Investment Sploot