Naukri Internet Services Ltd to invest Rs. 20 crores in Startup Investments Holding Ltd

Naukri Internet Services Limited ("NISL"), a wholly owned subsidiary of Info Edge India Ltd has in its meeting of the Board of Directors held today i.e. July 22, 2023 agreed to invest an amount of Rs. 20 Crores in its fellow subsidiary - Startup Investments (Holding) Limited ("SIHL"), wholly-owned subsidiary of the Company.

The Company already holds 100% stake in SIHL 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.

NISL has agreed to acquire 20,000,000 (Two Crore) Equity shares of nominal value of Rs. 10/- (Rupees Ten Only) for cash, at par for an amount of Rs. 200,000,000/- (Rupees Twenty Crore Only). Post this investment, SIHL remains the wholly-owned subsidiary of the Company.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 4651.80 as compared to the previous close of Rs. 4646.40. The total number of shares traded during the day was 4168 in over 952 trades.

The stock hit an intraday high of Rs. 4659.95 and intraday low of 4515.05. The net turnover during the day was Rs. 19215757.00.

Source : Equity Bulls

Keywords

InfoEdgeIndia INE663F01024 NaukriInternetServices Investment StartupInvestmentsHolding