Redstart Labs to invest in Brainsight Technology Pvt Ltd

Redstart Labs (India) Ltd. ("Redstart"), a wholly-owned subsidiary of Info Edge (India) Ltd has agreed to invest Rs. 98,94,000/- in Brainsight Technology Private Limited.

Brainsight is engaged in the business of healthcare technology, where it uses AI enabled application to provide evidence-based treatment hooks for neurosurgeons, psychiatrists and neurologists; and a private and empathetic digital aid for patients, and related business activities.

Brainsight is an existing investee company wherein Redstart holds 4% on a fully converted & diluted basis. 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 invest an aggregate amount of Rs. 98,94,000/- (Rupees Ninety-eight lakh ninety-four thousand Only) by way of subscribing to Convertible Notes. Since the Note would be converted into shares in the next round basis the valuation at that time, aggregate shareholding of the Company through Redstart, post this investment cannot be estimated at the time of making the intimation.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 4403.05 as compared to the previous close of Rs. 4467.95. The total number of shares traded during the day was 7645 in over 1779 trades.

The stock hit an intraday high of Rs. 4455.50 and intraday low of 4395.75. The net turnover during the day was Rs. 33848721.00.

Source : Equity Bulls

Keywords

InfoEdgeIndia INE663F01024 RedstartLabsIndia Investment BrainsightTechnology