Info Edge India Ltd announces further investment in Startup Investments Holding Ltd

Info Edge (India) Limited in its meeting of Committee of Executive Directors held today i.e. on January 17, 2025 has agreed to invest an amount of about Rs. 90 Crores in Startup Investments (Holding) Limited (SIHL), a wholly owned subsidiary of the Company.

The Company already holds 100% stake in SIHL, directly and through Naukri Internet Services Ltd., a wholly owned subsidiary of the Company, 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.

SIHL is engaged in direct or indirect investments in tech companies and related activities.

The present investment would help SIHL to explore investment opportunities including contribution to AIF(s) and other general purposes.

The Company has agreed to acquire 4,193,849 Compulsorily Convertible Debentures ("CCDs") at an issue price of Rs. 214.6/- each including premium of Rs. 114.6/- per CCD. 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. 7743.45 as compared to the previous close of Rs. 7629.10. The total number of shares traded during the day was 2475 in over 658 trades.

The stock hit an intraday high of Rs. 7777.00 and intraday low of 7622.05. The net turnover during the day was Rs. 19128978.00.

Source : Equity Bulls

Keywords

InfoEdgeIndia INE663F01024 Investment StartupInvestmentsHolding