Info Edge to invest Rs 40 crore in wholly-owned subsidiary Startup Investments – Industry News
Noida-based Info Edge (India), the parent company of Naukri.com, 99acres, Jeevansathi and Shiksha, will invest approximately Rs 40 crore in Startup Investments, a wholly-owned subsidiary, the company said in a regulatory filing on Wednesday. How will Info Edge invest Rs 40 crore in Startup Investments Holdings? Under the terms of the transaction, Info Edge will acquire 18,68,285 compulsorily convertible debentures (CCDs) carrying a 0.0001% coupon, at an issue price of Rs 214.10 each, which includes a premium of Rs 114.10 per debenture. The investment will be made through cash consideration,...