New Biz

Info Edge infuses Rs 300Cr in Startup Investments

IT company Info Edge, which owns portals like Naukri and 99Acres, has invested Rs 300 crore in its subsidiary Startup Investments, the company said in a regulatory filing on Saturday.

Info Edge holds a 100 percent stake in Startup Investments (Holding) Ltd (SIHL) which is a holding and investment company.

“The present investment would help SIHL to explore investment opportunities including contribution to AIF(s) managed by Smartweb Internet Services,” Info Edge said in the filing.

Info Edge mentioned it is making a cash investment of Rs 300 crore immediately.

“The company has agreed to acquire 3 crores -0.0001 percent Compulsorily Convertible Debentures (CCDs) having face value of Rs 100 each convertible within a period not exceeding 10 years, at any time from the date of allotment on agreed terms and conditions,” the filing said.

Edited by Affirunisa Kankudti